Under an agreement signed with the "Industry and Export Development"

Emirates Development provides financing solutions for industrial facilities in Dubai

The Emirates Development Bank has signed a strategic agreement with the Dubai Corporation for the Development of Industry and Exports, according to which it provides innovative financing and banking solutions for large companies and small and medium enterprises, with the aim of supporting the growth of the industrial and export sectors in the UAE.

A statement issued today stated that both the CEO of the Emirates Development Bank, Ahmed Mohammed Al Naqbi, and the CEO of the Dubai Corporation for the Development of Industry and Exports, Engineer Saed Al-Awadi, signed the agreement, which aims to advance the strategic cooperation between the two sides to develop the industrial sector in the Emirate of Dubai and at the level Federal as well, as well as providing opportunities for local and international companies to set up industrial facilities in Dubai and increase exports.

An essential step,


Al-Naqbi said, "The agreement constitutes an essential step for the Dubai Corporation for the Development of Industry and Exports, within its strategic plans to support and finance companies, push the wheel of industrial growth and enhance exports," adding: "We believe that this cooperation will help us reach potential customers and study their financing opportunities, and we will work together." It also aims to develop entrepreneurship, awareness programs and share industrial knowledge.”

He pointed out that "the Emirates Development Bank is the financial driver of the strategy (the 300 billion project), whose implementation is supervised by the Ministry of Industry and Advanced Technology."

He stated that Egypt will work in cooperation with the Dubai Corporation for the Development of Industry and Exports to facilitate the access of Emirati exporters to sources of export financing in order to expand their global value chains and contribute to the country's economic growth and increase productivity.

Tamkeen


, for his part, Al-Awadi said, "With the Emirates Development Bank, we seek to enable industrial development and the UAE's connection with global markets through the rapid adoption of advanced technology, in addition to enabling the growth of innovative small and medium-sized companies in Dubai and the UAE in general."

He added, "The bank has a range of unparalleled services at the state level in the fields of industrial finance, business consultancy and corporate training opportunities, and we look forward to our customers benefiting from this strategic cooperation."

Promotion


The Emirates Development Bank organized a promotional campaign, in partnership with the Dubai Corporation for the Development of Industry and Exports, at the Expo 2020 Dubai, to highlight the financial solutions provided by the bank to large companies and small and medium companies.

It is noteworthy that the bank allocated 30 billion dirhams as a direct and indirect financial package to finance small, medium and emerging enterprises and major companies in the priority sectors of the industry.

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