The Dubai-based International Centre for Biosaline Agriculture (ICBA) has been given an injection of $13 million (Dh47.7m) in new grants. This includes $8m from the UAE Government and the Islamic Development Bank (IDB), and an approval for a further $5m from a consortium of four funds.
The centre signed an agreement two weeks ago to renew its financial support from the UAE Government and the Islamic Development Bank (IDB), both sole financiers of the centre since its inception. They have now pledged their support once again with the $8m injection which 60 per cent will be paid by the government and the rest by the Islamic Development Bank said Dr Shawki Barghouti, the Director-General of the centre.
Meanwhile, the centre has attracted the attention of international movers and shakers in this new area of businesses, particularly in its quest for finding alternative salt-resistant crops, as well as for its research concerning the shortages of fresh water for agricultural and urban landscaping in the Middle East, North Africa and Central Asia.