The Emirates Development Bank (EDB) announced a big investment of 5 billion dirhams to boost the UAE’s manufacturing industry this year. This aligns with the UAE’s plan to improve technology, strengthen its manufacturing base, and grow the economy in a sustainable way. Basically, they’re giving money to factories to help them become more modern and effective, which will create jobs and make the economy stronger.

EDB has a bigger goal too. By 2026, they want to lend 30 billion dirhams to help 13,500 companies across different industries. This shows how important working together is for the economy. By providing financial support and encouraging companies to collaborate, EDB hopes to spark innovation and growth in many areas, keeping the UAE’s economy healthy.
Part of this plan includes 1 billion dirhams specifically for bringing in new technologies and improving how factories operate in the UAE. This money supports the “Make it in the Emirates” initiative, which has a few key goals. One is to create new jobs in manufacturing and technology, which will help lower unemployment and give people more opportunities to work.
Additionally, the initiative seeks to increase industrial results by boosting the production capacity and effectiveness of UAE industries. This is expected to improve the total competitiveness of the manufacturing sector, making it more robust and capable of meeting both local and international demands. Furthermore, strengthening economic resilience is a major objective. By paying attention to sustainable growth and the ability to withstand economic challenges, EDB aims to create a more stable and dynamic economic environment.
Through these strategic efforts, EDB is poised to make a significant impact on the UAE’s economy. By supporting innovation, enhancing manufacturing, and building strong partnerships, the bank aims to support substantially to national GDP growth. The emphasis on technology and resilience is particularly important as it makes sure that the UAE’s industrial sector stays competitive and capable of adjusting to future challenges.
Since April 2021, Emirates Development Bank (EDB) has given AED 4.7 billion to help the UAE’s manufacturing sector. This is almost half of the AED 10.4 billion total financing EDB has provided. The new AED 5 billion financing deal shows EDB’s focus on strengthening the UAE’s industrial sector, which is very important for the national economy.
EDB believes that a strong manufacturing sector is key to economic growth. By providing financial support, EDB aims to build a solid foundation for the UAE’s industry, ensuring it remains a vital part of the economy.
The “Make it in the Emirates” initiative is a big part of EDB’s efforts. This initiative aims to boost local manufacturing, promote innovation, and create jobs, helping to build a more resilient and diverse economy. The new AED 5 billion commitment is expected to significantly advance these goals.
This responsibility is about more than just money. It shows EDB’s vision for the UAE’s future. By focusing on sustainable and diversified economic growth, EDB wants to help the UAE achieve its long-term goals. Supporting the manufacturing sector is a key part of this plan, as it helps create a strong, innovative, and resilient industrial base in the UAE.
Emirates Development Bank (EDB) is providing financing to support a wide range of manufacturing projects. These projects especially focus on using advanced technologies that fit with the UAE’s plans to diversify its economy. This means EDB is not just giving money; they are also helping to create an environment where industrial innovation and growth can thrive.
EDB’s strategy includes more than just financial support. They want to build a strong ecosystem that encourages new ideas and growth in the manufacturing sector. The “Make it in the Emirates” initiative, led by the Ministry of Industry and Advanced Technology (MoIAT), plays a key role in this. This initiative promotes more local production and helps the UAE become more self-reliant.
In simple terms, EDB is not only funding manufacturing projects but also helping to create a supportive environment for these projects to succeed. They are focusing on advanced technologies and local production to help the UAE’s economy grow and become more diverse.
Also read: UAE Intiates 2024-2025 National Health and Nutrition Survey to Strengthen Public Health Policies