The United Arab Emirates (UAE) has pledged to contribute USD 2 billion to develop integrated food parks across the country. The announcement was made at the first meeting of the four-nation I2U2 Summit, which saw Prime Minister Narendra Modi, US President Joe Biden, Israeli Prime Minister Yair Lapid and UAE President Mohammed bin Zayed Al Nahyan attend the first virtual summit
A joint statement from the I2U2 leaders said that India will provide appropriate land for the food parks, while the US and Israeli private sectors will be invited to lend their expertise and offer solutions for the overall sustainability of the project. Further, the group will advance hybrid renewable energy project in Gujarat consisting of 300 megawatts of wind and solar capacity.
Prime Minister Narendra Modi, in a televised address, said that the Group has agreed to increase joint investment in six critical areas: water, energy, transportation, space, health and food security under the I2U2 framework.
The I2U2 grouping, with I standing for India and Israel and U for USA and UAE, was conceptualized in October, last year, during a meeting of the foreign ministers of these countries.
Source : PTI