June 21, 2024
PRESS RELEASES

Emirates Development Bank Showcases Commitment to Supporting Private Sector Companies with Comprehensive Financing Solutions

Emirates Development Bank (‘EDB’ or the ‘Bank), the key financial engine of economic development and industrial advancement in the UAE, is participating as Gold Sponsor at the Bonds, Loans, and Sukuk Middle East 2024 conference. This participation highlights EDB’s dedicated support for businesses of all sizes through innovative financing solutions. Recognized as the Middle East’s largest corporate and investment banking event, the conference offers EDB an ideal platform to showcase its development banking approach, which prioritizes economic impact over profit, fostering sustainable growth in the UAE.

EDB is highlighting its financial expertise in offering tailored solutions for businesses including mSMEs and large corporates, reinforcing its position as a key financial partner in the UAE and beyond. By engaging with event delegates and the participating entities, EDB is fostering meaningful connections with policymakers and industry stakeholders, promoting crucial discussions on economic development and financial innovation. The event also provides a platform for EDB to present its specialized financing across five strategic sectors, showcasing the positive economic impacts of its initiatives.

EDB supports businesses in five priority sectors: manufacturing, advanced technology, food security, healthcare, and renewables, with an aim to increase its contribution to the national GDP to AED10 billion by 2026.

The Bank focuses on strengthening the private sector, expanding partnerships, and introducing new products. EDB has broadened its portfolio to support mSMEs by launching various new products and services, including supply chain financing, medical receivables financing, letters of credit, US dollar lending and deposits, and access to the UAE’s Monetary Bill. Additionally, a multilateral financing program with a commitment of AED300 million was introduced for medium-sized companies, offering loans with lower pricing, larger amounts (up to AED10 million), and longer terms (up to 10 years). EDB facilitated these offerings by signing agreements with several local banks, resulting in over AED1 billion in partnership lending in 2023.

EDB also offers CAPEX financing to assist large corporates in acquiring long-term assets such as machinery, equipment, property, or technology. By supporting the UAE’s largest corporate investments, CAPEX financing enhances productivity, efficiency, and competitiveness, contributing to long-term success. The Bank provides a range of trade and working capital solutions designed to facilitate domestic and international trade, crucial in mitigating payment and credit risks associated with global commerce, enabling businesses to confidently engage in cross-border transactions and drive growth.

Last Updated on 2 weeks by Middle East News 247

    Middle East News 247

    Middle East News 247 delivers trending business and lifestyle news and essential infotainment for, and from the Middle East region, with key focus on the GCC nations: United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.
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