Emirates Development Bank has witnessed significant growth since the launch of its strategy in April 2021, raising AED12.9 billion ($3.51 billion) in financing and further supporting the UAE’s economy.
Of this cumulative total, the bank has allocated AED4.4 billion ($1.20 billion) so far for the development and growth of Dubai’s key sectors. This substantial investment highlights the bank’s dedication to supporting the UAE’s economic landscape and promoting sustainable growth throughout the region.
Investing in UAE’s future readiness
Emirates Development Bank (EDB) unveiled this progress during the fifth edition of its EDB Connect forum series, held in partnership with the Ministry of Industry and Advanced Technology’s (MoIAT) ‘Make it in the Emirates’ initiative.
The event convened key stakeholders from both government entities and private sector companies to discuss the importance of mutual collaborations and purpose-driven partnerships that have a critical role in shaping Dubai’s sustainable future.
Ahmed Mohamed Al Naqbi, CEO of EDB, emphasized the importance of EDB Connect as an ideal platform to discuss economic trends, strategic partnerships and collaboration, and governmental incentive schemes that can support local businesses and SMEs to upscale their operations and enhance their growth trajectory.
“As we spearhead the nation’s development efforts by optimizing its investment portfolio across critical industries, we embrace a vital responsibility of nurturing our nation’s growth and ensuring its future readiness. This commitment aligns with the long-term economic vision of our leadership and supports our corporate and business objectives,” he added.
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Advancing Dubai’s global impact
Emirates Development Bank’s event featured three key panel discussions. The first panel explored Dubai’s potential to become a global leader in impact investing by leveraging its strategic location and economic strength.
The second panel looked at the possibilities of transforming Dubai into a hub of advanced manufacturing solutions driven by local innovation. Meanwhile, the third panel discussed the role of AI in driving businesses and enhancing their operational efficiency.
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