Emirates Development Bank has announced financing deals totaling Dh 362 million to help grow and support the UAE’s manufacturing sector, with a particular emphasis on enabling mSMEs. EDB has increased its financing to the UAE’s manufacturing sector by more than Dh5.4 billion year-to-date in 2024, following the launch of its new strategy in April 2021. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, stated that the financing announcements made during the third edition of the Make it in the Emirates Forum will result in significant progress in advanced technology adoption, economic resilience, and industrial leadership. These transactions will increase our support for the manufacturing sector, which received Dh5.4 billion in financing in 2024, accounting for 48% of our total financing over three years. Manufacturing is more than just an industry; it’s the backbone of the UAE’s bold vision for economic diversification and sustainable development.
The bank is bolstering advanced manufacturing and diversifying critical supply chains through innovative financing solutions and a patient debt approach with long tenors, promoting cutting-edge food security solutions, expanding climate finance and the shift to renewable energy, increasing access to smart and efficient healthcare systems, and promoting the deployment of advanced technologies across industries. In doing so, the Bank is anchoring jobs and investments in the UAE, increasing access to financing for SMEs, empowering entrepreneurs, increasing the generation of in-country value (ICV), and driving the national vision for a diverse, high-tech, and AI-driven economy.
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