Bahrein: Financing completed to $8.75M hydroponic project

The National Bank of Bahrain (NBB) has extended its support to the latest BD3.3 million ($8.75 million) food sustainability project by the Ministry of Works, Municipalities Affairs & Urban Planning. 
 
The project, awarded to Al Amin Gardens (a subsidiary of Ali Rashid Al Amin Company) by the Bahrain Agriculture Development Company, is set to design, build, operate, and hand over a hydroponic farm located in Hoorat A’ali and Diraz.
 
Aligning with its sustainability journey, NBB is offering to finance to the project set to complete within 12 months following its commencement date. The initiative targets various sectors, specifically small and micro-projects in the kingdom, specializing in agriculture. The project focuses on the principles of stability and the prosperity of Bahraini citizens as well as the preservation of national natural resources and encouraging community participation.

Commenting on the initiative, Arif Janahi, Head of Commercial & SME at NBB, said: “We are delighted to be collaborating with Al Amin Gardens to help develop this initiative. The importance of this project is at the heart of NBB’s journey towards encouraging sustainability and ESG-friendly financing. Through this initiative, we are able to drive forth more national projects that are in line with the kingdom’s efforts to promote environmental values as part of Bahrain’s Economic Vision 2030. NBB continues to invest in initiatives that will benefit both the community and the future of the kingdom.”

Read the complete article at /www.tradearabia.com.


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