#Emirates Development Bank
Food security is one of the five priority sectors that the development bank supports to contribute to the country’s national development agenda
The initiative will allocate Dhs100m to bolster the adoption of green energy solutions with a focus on solar energy initiatives
The MoU will see the creation of a working group to discuss new ways of delivering supply chain financing to small and medium enterprises in the UAE
The programme is targetted at farmers, local producers, technology providers, equipment suppliers, and those involved in the agriculture support ecosystem
The development bank is playing a vital role in supporting the UAE’s industrial strategy by providing financial assistance and driving sustainable growth
The deals come as part of the bank’s mandate to approve Dhs30bn in funding support to companies in the UAE within five key focus sectors
Emirates Development Bank will showcase its flexible financial solutions to support companies operating within the renewables sector
The bank’s credit guarantee scheme aims to help SMEs overcome challenges in accessing financing from conventional banks
The Islamic lender is the 11th commercial bank to join EDB’s credit guarantee scheme platform
The bank is a financial enabler of the UAE’s economic diversification and industrial transformation agenda
Emirates Development Bank’s financing contributed Dhs3.5bn to the UAE’s non-oil GDP and helped create more than 12,000 industrial jobs
Both entities will leverage their core competencies to drive economic growth, diversification and industrial transformation
Under the credit guarantee scheme, EDB will guarantee up to 50 per cent of the finance facility extended to SMEs by ADCB
It includes a formal framework for both entities to provide SMEs with access to trade financing
Emirates Development Bank approved Dhs1.3bn towards financing mSMEs and Dhs3.1bn to fund industrial development and infrastructure projects
The lending service will be available for UAE-based SMEs and startups operating in one of EDB’s five priority sectors, which are manufacturing, healthcare, food security, advanced technology and infrastructure
EDB mobilised Dhs351m in capital in H1 2022 to support SMEs via its credit guarantee scheme
The MoU will see the two parties identify collaboration opportunities in food security and also support SMEs and startups in the agriculture sector
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
Emirates Development Bank has approved the trade facility to help JLW Middle East build the centre
The bank’s strategy involved direct and indirect financing of 1,350 SMEs across priority sectors
Ajman Bank will offer up to Dhs10m financing to an SME, and 50 per cent of the facility amount will be either guaranteed or co-lent by EDB
The EDB Business Banking app is free to open and has no minimum balance criteria
Mashreq will offer financing of up to Dhs10m to SME customers, of which 50 per cent will be guaranteed or co-lent by EDB
Dubai’s US-dollar denominated debt listings are now valued at $98.5bn
The MoU will cover credit guarantee and co-lending programmes
The Beehive platform uses crowdfunding technology to connect SMEs seeking finance with investors who can support their finance request
This was the second USD transaction issued under EDB’s $3bn Euro Medium Term Note programme
CBD can offer up to Dhs10m financing to an SME, and 50 per cent of the facility amount will be either guaranteed or co-lent by EDB