His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Office of Development and Martyrs Families Affairs at the Presidential Court and Chairman of the Emirates Council for Rural Development, has attended the signing of a AED73.5m agreement between the Emirates Council for Rural Development and Mubadala.

The agreement aims to fund projects and programmes that support the council’s strategy to enhance quality of life across the country.

The memorandum of understanding (MoU) with Mubadala is the latest in a series of agreements that the council is pursuing with strategic partners as part of the private sector’s contribution to the Emirates Villages programme, and to foster integration and collaboration between the government and private sectors in the interest of Emirati society.

The MoU was signed by Mohammed Khalifa Bakhit Al Kaabi, Secretary General of the Emirates Council for Rural Development, and Homaid Abdulla Al Shimmari, Mubadala’s Deputy CEO and Chief Corporate and Human Capital Officer.

Al Kaabi stressed that the strategy of the Emirates Council for Rural Development, headed by His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, reflects the keenness of the wise leadership to achieve sustainable development in villages and regions across the UAE in a way that benefits the population and ensures the wellbeing of society and a decent living for its members.

He said: "We work in cooperation with partners in the private sector to achieve our leadership’s vision and realise economic development in all regions of the country, especially Emirati villages. By focusing on development axes and launching commercial and economic projects to absorb the energy of youth, we aim to raise awareness of the historical and archaeological significance of the areas that are being developed as an important part of the UAE’s history."

Al Kaabi stressed the importance of cooperation with Mubadala as a model for partnerships that will contribute to the advancement of new development models in Emirati villages, through a strong strategic public-private partnership.

Al Shimmari said: "At Mubadala, we are committed to making a positive and lasting impact on our community. This agreement with the Emirates Council for Rural Development represents a strategic partnership that will enable us to support the council’s projects throughout the country with the aim of developing a sustainable economic development in support of the national economy and social stability.

"Mubadala is always committed to the highest standards of social responsibility. As a national company, we focus our efforts on initiatives that seek to make positive impact on the community and improve the quality of life across the country."

The agreement establishes cooperation in several common fields and strengthens the strategic partnership between the two parties while contributing to achieving the council’s objectives.

Under the MoU, the two parties will work together on joint plans to support development projects that enhance economic growth and provide a decent life for the country’s citizens and residents. A joint committee will be formed to evaluate progress and identify opportunities to elevate efforts to satisfy both parties’ aspirations.

The Emirates Villages project is the council’s first project and is based on development paths, including sustainable projects, aesthetic appearance, awareness of the historical and archaeological significance of the villages. The project also aims to support the small and medium enterprises within the community, as well as a series of media campaigns that showcase important landmarks in each village to promote domestic tourism and contribute to social development.