UAE – Mubasher: Emirates Development Bank (EDB) unveiled plans to provide financing at a total value of AED 30 billion by 2026, according to Emirates News Agency (WAM).

Shaker Zainal, Business Finance Director at EDB, highlighted that the financing is expected to support around 13,500 companies operating in five priority sectors, including renewable energy, advanced technology, and food security.

Zainal’s remarks came on the sidelines of the Make It in the Emirates Forum, which kicked off in Abu Dhabi on 27 May 2024.

The official noted that the bank allocated AED 5 billion in financing for industrial projects in 2024 in line with its commitment to empowering the capabilities of advanced industries and boosting local value addition.

In May 2023, Emirates Development Bank greenlighted financing agreements at a combined value of AED 424 million to drive economic diversification.