The Emirates Development Bank has announced a commitment of AED 5 billion to accelerate the growth of the manufacturing sector across the nation, in line with the UAE Industrial Development Strategy. This commitment will drive advancements in technological adoption, diversification, and economic resilience.
This announcement was made at the Make It in the Emirates (MIITE) forum, organized by the Ministry of Industry and Advanced Technology (MoIAT), highlighting the critical role of strategic partnerships in achieving the nation’s economic goals. EDB’s targeted financing includes AED1 billion allocated for co-lending with commercial banks through credit guarantee schemes and multilateral deals, further extending the impact and reach of this financing initiative.
As per the government priorities, EDB continues to deliver on its mission of fostering a sustainable and self-reliant economy. It has also been mandated to provide AED 30 billion in financing support to 13,500 companies within its five priority sectors—renewables, manufacturing, advanced technology, healthcare, and food security by 2030.
Commenting on the announcement, His Excellency Ahmed Mohamed Al Naqbi, Chief Executive Officer of EDB, said, “By strategically allocating this significant amount in financing, including AED 1 billion in co-lending with our partners in commercial banks, we are facilitating the adoption of cutting-edge technologies and fostering innovation that will enhance the UAE’s manufacturing capabilities, positioning our nation as a leading global hub for high-tech industries. This financing demonstrates our confidence in the UAE’s industrial sector and its potential to drive substantial economic growth.
Since the launch of its strategy in April 2021 to the end of Q1 2024,  EDB’s support for the manufacturing sector reached AED 4.7 billion in financing, constituting 46 per cent of EDB’s AED 10.4 billion total financing. The new substantial financing deal reflects EDB’s strategic focus on strengthening the foundation of the UAE’s industrial sector as a cornerstone of the national economy. As EDB continues to support the Make it in the Emirates initiative, this AED 5 billion financing commitment is expected to significantly impact the UAE’s vision for a sustainable and diversified economic future.
“Through the Make it in the Emirates initiative and our strategic partnership with MoIAT, we are committed to ensuring that these financing deals translate into employment opportunities, enhanced industrial output, greater in-country value, and stronger economic resilience. We believe that the ripple effects of this commitment will be felt across the economy, elevating the UAE’s industrial capabilities and contributing significantly to its national GDP,” said Al Naqbi.
The financing aims to support various manufacturing projects, particularly those incorporating advanced technologies aligned with the UAE’s ambitious economic diversification plans.
