Emirates Development Bank said total financing it has approved since 2021 has exceeded AED 30 billion, meeting its five-year target as it finances projects linked to the UAE’s priorities in industrial development and economic diversification.
Financing for more than 1,000 companies
Since 2021, the bank has provided financing to more than 1,000 companies across its five main sectors: manufacturing, renewable energy, advanced technology, healthcare and food security. Manufacturing accounted for the largest share of the financing.
The financing is focused on companies and projects that expand production capacity, strengthen local supply chains and support strategic sectors across the country. It has also enabled companies to invest in facilities and technologies and manufacture products needed to meet demand in the UAE and international markets.
Impact of financing on the industrial sector
According to its latest data, the bank’s financing contributed more than AED 14 billion to the UAE’s industrial gross domestic product, enabled more than 50,000 jobs in the sector and encouraged around AED 70 billion in industrial capital expenditure.
Companies supported by the bank attracted foreign investment worth more than AED 9 billion, supporting the establishment and expansion of industrial and advanced manufacturing companies in the UAE.
Directing financing towards high-impact sectors
“Our focus is on financing projects that help strengthen production capacity, enrich local value chains and deepen their specialisation, and help companies operating in the UAE compete in local and global markets.”
Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, said the bank would continue building on this progress while pursuing a strategy to direct capital towards the sectors with the greatest impact on strengthening the country’s resilience and long-term competitiveness.
