Emirates Development Bank inks credit facility agreement with Valiant Healthcare

Emirates Development Bank (EDB) has signed a credit facility agreement with Valiant Healthcare, which owns Valiant Clinic & Hospital, a UAE-based boutique multi-specialty clinic and hospital located in CityWalk Dubai.

The agreement will extend financing for both capital investment and operational expenditures, allowing Valiant Healthcare to fulfill its expansions plans while accessing essential working capital.

Healthcare is one of the priority sectors that EDB targets with its range of flexible financial and non-financial solutions. EDB’s patient debt approach, in which financing is available with long tenors, extended grace periods and competitive rates, is available to customers and projects in the UAE that support economic diversification, facilitate high-skill job creation, and deliver tangible economic impact.

Ahmed Mohamed Al Naqbi, CEO of EDB, said: “Healthcare is one of the most important sectors in the UAE – both in terms of its growth potential and its centrality to the wellbeing of our society. To meet the increasing demand for high-quality clinical and diagnostic services, healthcare spending is expected to grow at a CAGR of 6.9 per cent, reaching Dhs107bn by 2029.

“Our agreement with Valiant Healthcare demonstrates our commitment to enhancing the national healthcare ecosystem by expanding the provision of high-quality healthcare in the UAE. Crucially, and central to EDB’s broader mission, it will also have an important developmental impact. This deal underlines EDB’s role as a strong, trusted and reliable partner for local and international businesses in priority sectors that are looking to expand or setup their business in the UAE.”

Ahmed bin Juma Belhoul, CEO of Valiant Healthcare LLC, said: “With EDB’s support, we will move forward with our comprehensive business plan. We will introduce our patients to additional highly valued premium in-patient rooms, in addition to a state-of- the-art cath-lab and EP lab, lead by UK, American and European board-certified physicans, adding value to the entire UAE healthcare industry and supporting Dubai’s vision of being a medial tourism hub.”

In other news, in April, EDB said that as part of a new strategy that it launched in March 2021, it has contributed Dhs1.91bn to the UAE’s GDP growth. The strategy included direct and indirect financing of 1,350 SMEs across priority sectors, and the launch of a new Credit Guarantee platform, which mobilised more than Dhs332m of capital to SMEs.

Read: Emirates Development Bank contributes Dhs1.91bn to UAE’s GDP