NBB and the Future Generation Reserve signed a Memorandum of Understanding for the
promotion and development of the “Ghetha” Fund. TheMOU was signed by Mr. Abdul Razak A. Hassan Al Qassim(CEO and Director of NBB ) and Mr. Mohammed M. Al Sulaity
(CEO , Future Generation Reserve.
The Fund will focus on medium to long-term investment in projects within and outside Bahrain that would help the Kingdom attain self-sufficiency in food and which would
include the following:
- Promote and/or invest in viable existing companies and projects engaged in agriculture, poultry and allied sectors and enable them to scale up their activity levels
- Promote and/or invest in viable start-up companies engaged in agriculture, poultry and allied activities
- Purchase land in overseas countries for captive production
- Engage appropriate advisors for each project that the Fundseeks to invest in
- Support the investee companies/projects with management inputs and facilitate their eventual listing/IPO.
- Target the entire food production value chain including production, storage, processing, logistics and distribution.
The Minister of Finance, H.E. Shaikh Ahmed bin Mohammed Al Khalifa, said, “The Ghetha Fund is a joint initiative between the Future Generation Reserve and the National Bank of
Bahrain to help Bahrain in its march for progress. In keeping with the aims and goals outlined in the Vision 2030, this Fund endeavors to improve Bahrain’s food security. We
are delighted to partner the National Bank of Bahrain in this strategic initiative that will not only address the food requirements of the Kingdom but will also prove to be a model for more partnerships between the public and private sectors.