ABU DHABI, UAE – Emirates Development Bank (EDB) displayed its flexible and customized financing solutions in the Annual Investment Meeting, held at ADNEC here, local media reports said.
The two-day event served as a platform for networking and connecting with experts, investors, companies, and SMEs.
EDB’s CEO, Ahmed Mohamed Al Naqbi, said: “It was a good platform to share the financial and non-financial solutions EDB offers to support SMEs and corporates, as well as our involvement in Make it in the Emirates and Operation 300bn to further develop the UAE’s industrial and manufacturing capabilities.”
The experts explored the opportunities for UAE as a preferred investment destination, reports said.
EDB launched its five-year strategy in 2021 with a focus on five priority sectors that align with the country’s national development objectives.
These include Manufacturing, Advanced Technology, Renewables, Healthcare, and Food Security, say reports.
EDB provides financial and non-financial solutions to support companies operating within the five sectors and aims to deploy US$8.1 billion (AED 30 billion) in support to 13,500 companies by 2026.
The bank offers financing solutions with flexible terms for industrial companies and projects with high developmental impact.
Financing options include capex, advanced technology adoption, renewable and energy efficiency and digitalization. It also includes project financing.
These products fill the lending gap in the market and enable companies to expand operations, develop new capabilities and create jobs.
A key discussion during the meeting revolved around the available options in the UAE for companies, especially SMEs, to secure financing for their projects, considering the global environment of tighter credit and declining venture capital.
This presented an ideal opportunity for EDB to showcase its diverse range of financing solutions and initiatives designed specifically for SMEs.
EDB highlighted its direct and indirect financing options, which aim to enhance the bankability and promote financial inclusion of SMEs.
EDB also emphasized its Credit Guarantee Scheme (CGS), which offers a partial guarantee to partner banks, assisting SMEs in overcoming financing challenges they may face.
These comprehensive offerings from EDB underscore its commitment to supporting the growth and development of SMEs in the UAE.
The bank offers direct and indirect lending to assist companies as they seek to expand, modernize, diversify, adopt advanced technology or transition to renewable energy sources.