The national agricultural initiative is aimed at promoting the farming sector in Bahrain and encouraging the nascent agricultural sector through technical support and micro-loans which will allow farmers access to modern agricultural equipment, methods and markets.
In accordance with the signed agreement, Tamkeen has allocated a budget of four million Bahraini dinar to support 600 Bahraini farmers for a two-year period, helping them to adopt modern techniques and methods, and to meet the requirements of agricultural and animal sectors.
Tamkeen's programme has been designed to encompass soil and soilless cultivation in addition to the adoption of modern techniques in the field of farming and breeding. The total support amounts to 80 per cent of the cost of modern machinery and supplies, up to a maximum of 7,000 Bahraini dinar. The beneficiary will bear 20 per cent of the cost.
Support includes the purchase of agricultural machinery and tools, electrical pumps, cooling devices for greenhouse cultivations, refrigerators for fruits and vegetables, water desalination and machinery for the preparation of dairy products.
Abdulellah Al-Qassimi, CEO of Tamkeen, said: "Agriculture is a key component of food security in the kingdom. This project, guided by the vision of HRH Princess Sabeeka, aims to increase the potential of this vital sector. The programme is designed to support 600 farmers to improve agricultural productivity and improve availability of local produce supply for local food consumption."
Waheed Al Qassim, CEO of Ebdaa Bank, said: "Ebdaa Bank is looking forward to further cooperating with Tamkeen in supporting Bahraini farmers as an external body that manages the financial fund. Dr. Al Qassim also stated that the bank is providing new services in the field of micro financing through its partnership in managing the fund," he said.