EDB backs UAE businesses with more than Dh30 billion in financing

Emirates Development Bank (EDB) has approved more than Dh30 billion in financing since 2021, reflecting its commitment to bolster the UAE's industrial sector, foster economic diversification and bolster national resilience. The bank supports businesses across five priority industries: manufacturing, advanced technology, food security, healthcare and renewable energy.

EDB's CEO, Ahmed Mohamed Al Naqbi, emphasized that the bank measures success not solely by financing volumes, but by financing projects that bolster productive capacities, strengthen local value chains and deepen specialization. These efforts aim to help UAE-based companies compete in both domestic and international markets.

The bank's impact is evident in the financing of over 50,000 industrial jobs, contributing more than Dh14 billion to the UAE's industrial GDP and aiding the attraction of Dh9 billion in foreign investment. Notable examples include the expansion of King's College Hospital London – Dubai, which will increase bed capacity and introduce advanced medical services, and the focus on strategic sectors such as food security, pharmaceuticals and advanced manufacturing.

Recent geopolitical tensions have underscored the importance of supply chain resilience, prompting EDB to introduce a Risk Relief Package offering additional working capital, repayment deferrals and more flexible financing terms. The bank is also collaborating on the Dh1 billion National Industrial Resilience Fund (NIRF), which aims to strengthen domestic manufacturing, support localisation of critical industries and enhance the resilience of national supply chains.

The NIRF provides financing for capital expenditure, strategic inventories and working capital to increase production, with an interest rate of 0% until the end of the programme period.