Emirates Development Bank (EDB) is gearing up to expand its advance and loan portfolio in a big way, with plans to provide financing worth AED30 billion by 2026.
The bank aims to support approximately 13,500 companies with the proposed financing plan.
Companies in five priority sectors such as renewable energy, industry, advanced technology, healthcare, and food security will be the beneficiaries of the bank’s increased financing plans, Shaker Zainal, Business Finance Director at EDB, said.
EDB allocated AED5 billion in financing for industrial projects in 2024 as part of its commitment to empowering the capabilities of advanced industries and enhancing local value addition, Zainal told WAM on the sidelines of the ‘Make it in the Emirates Forum’.
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