Emirates NBD has joined forces with Siemens to unveil an innovative finance and resourcing agreement aimed at accelerating funding for future green infrastructure projects in the UAE.
This agreement represents the culmination of a comprehensive and strategic collaboration that integrates technology, sustainability, and finance, fully aligning with the UAE’s Net Zero by 2050 Strategic Initiative, according to a statement.
Siemens approached Emirates NBD to develop and design the administrative, technical, and structural components of the agreement. This collaboration led to the establishment of a unique credit framework, enhanced by an innovative suite of financing tools.
These resources will back green infrastructure projects from installation through their entire lifecycle, including efforts toward decarbonization.
Ahmed Al Qassim, group head of Wholesale Banking at Emirates NBD, stated, “Emirates NBD’s role in developing this expansive agreement with Siemens highlights our commitment to helping the UAE reach its sustainability and decarbonization ambitions.
It reinforces our goal to expand important working relationships with multinational conglomerates that share our ESG vision and are eager to establish new opportunities for growth within the fields of energy efficiency and sustainable technologies.”
Helmut von Struve, CEO of Siemens in the UAE, noted, “Decarbonizing infrastructure is a critical part of achieving the energy transition. The technologies required to accelerate energy efficiency progress are available today, but implementation needs to speed up to reach global goals.”
