"In an effort to activate its role in the transition to a diversified and flexible knowledge-based economy, and to achieve sustainable prosperity for the United Arab Emirates, the Ministry of Finance signed an agreement with Emirates Development Bank to host and operate the Mohammed Bin Rashid Innovation Fund. The agreement ensures the re-enforcement of frameworks, and joint coordination between the Ministry of Finance and EDB. Both parties will be forming a joint team to follow up the implementation of agreed programs and activities, perform a periodic evaluation of the cooperation process and prepare the necessary reports for the purpose of improving the level of cooperation and joint coordination.
The signing of this agreement is a reflection of the directives of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, and an embodiment of the national innovation strategy launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which aims to contribute to the realization of the UAE Vision 2021, and is supported by Emirates Development Bank the country’s leading entrepreneurs. www.mbrinnovationfund.ae