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Emirates Development Bank Boosts Industrial Funding
The UAE Development Bank announced that the total approved financings since 2021 have exceeded 30 billion dirhams to support the industrial sector and economic diversification in the UAE. More than a thousand companies have benefited from these financings in fields such as manufacturing, renewable energy, advanced technology, healthcare, and food security. These funds have contributed 14 billion dirhams to the industrial gross domestic product, created over 50,000 jobs in the sector, and attracted foreign investments exceeding 9 billion dirhams. The aim of this funding is to enhance productive capacities, develop supply chains, and increase competitiveness in both the local and global markets.
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