UAE to invest $2b in India ‘food parks’

The United Arab Emirates has pledged $2 billion to help develop a series of "food parks" in India to tackle food insecurity in South Asia and the Middle East, the UAE, India, the United States and Israel said on Thursday.

The idea is to bring farmers, processors and retailers together in one place using the latest climate technology to minimise waste, conserve water and maximise crop yields. The four countries would also advance renewable energy projects in India, they said in a statement.

"US and Israeli private sectors will be invited to lend their expertise and offer innovative solutions that contribute to the overall sustainability of the project," the statement said.