At Organic and Natural Products Expo Dubai

Emirates Development Bank shows financing support for manufacturing of sustainable products in the UAE

Dubai, United Arab Emirates, 12 December 2023: Emirates Development Bank ("EDB" or "the Bank"), the key financial engine of UAE economic development and industrial advancement, is showing its commitment to supporting the manufacturing and production of sustainable products during its participation in the Organic & Natural Products Expo Dubai held at the World Trade Centre in Dubai from 12 to 14 December 2023.

EDB has allocated AED30 billion to fill the financing gap in the market and enable the development of five priority sectors - manufacturing, renewables, technology, healthcare, and food security - which are key to the nation’s green transition and sustained economic growth. The bank aims to use this budget to support 13,500 small, medium, and large enterprises by 2026.

Ahmed Al Naqbi, Chief Executive Office of Emirates Development Bank, said: “As part of our mandate to enable the UAE’s sustainable economic growth and diversification, we offer flexible and competitive financing in national priority sectors including food security, advanced technology, renewables, healthcare, and manufacturing. We aim to drive economic impact and sustainability by focusing on solutions that can help the UAE to achieve food security and green transition across the economy. This Organic and Natural Products Expo is an opportunity to showcase our flexible financing packages that drive national manufacturing capabilities through enabling advancement in technology and innovation in manufacturing and production in the UAE. The various financing solutions we offer help conserve natural resources and create sustainable growth sectors that deliver economic, social and environmental impact.”  

As the UAE’s development bank, EDB fills critical lending gaps in the market and provides financing to high-risk projects with high-development impact because the bank prioritizes economic impact over profit. It offers a patient debt approach with long tenor financing and competitive pricing to increase the bankability of development projects. The bank also provides tailored financing packages and credit guarantees to enhance the creditworthiness and financial inclusion of small and medium sized businesses.

EDB has a dedicated AgriTech Loans Program to provide participants in the food value chain, including farmers, agribusinesses, producers, processors, and distributors, with favorable, long-term financing up to AED5 million with a long tenor of 10 years.

EDB is a key enabler of the UAE’s Industrial Strategy which aims to increase the industrial sector's contribution to GDP to more than AED 300 billion by 2031. With direct support to the manufacturing sector and a focus on catalyzing the Make it in the Emirates initiative, EDB has to date approved a total of AED3.15 billion in financing for the UAE’s manufacturing industry.

In addition, to enable the energy transition and support industrial decarbonization, EDB offers unique financing solutions for businesses working in the renewables sector. For renewables, EDB offers up to 100% financing of the project value and long tenors of up to 15 years. The bank also has a Solar Energy Financing Program with a planned financing budget of AED100 million to support businesses, especially mSMEs, to shift to cleaner sources of energy.