Abu dhabi: The Ministry of Industry and Advanced Technology (MoIAT), Emirates Development Bank (EDB), and ADNOC have signed a trilateral Memorandum of Understanding at Make it in the Emirates 2026, marking ADNOC as the first partner to support the UAE Cabinet's newly announced AED1 billion National Industrial Resilience Fund (NIRF).
According to Emirates News Agency, the fund, managed by EDB over five years, is designed to enhance supply chain resilience, accelerate the localisation of priority industries, and link confirmed procurement demand with targeted financing for local manufacturers. It focuses on brownfield investments, aiding existing facilities to expand capacity and scale output.
Hasan Jasem Al Nowais, Undersecretary of MoIAT, stated that the National Industrial Resilience Fund integrates efforts from MoIAT, EDB, and priority sector partners-starting with ADNOC-to fortify the industrial financing ecosystem, support local manufacturing growth, and accelerate the replacement of industrial imports with high-quality local alternatives.
Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, mentioned that through the NIRF, accessible financing solutions are being expanded for companies in key sectors that underpin national economic resilience. The partnership with MoIAT enables the provision of targeted liquidity support to manufacturers, assisting them in improving working capital, strengthening supply chains, and achieving sustainable long-term growth.
Omar Abdullah Al Nuaimi, Acting Director of Commercial and ICV at ADNOC, emphasized that this partnership links ADNOC's long-term procurement needs with targeted financing for local manufacturers. ADNOC remains committed to expanding local manufacturing through its ICV Programme, which has strengthened industrial resilience and created sustainable economic value since its launch in 2018.
Under the agreement, each partner has a defined role. MoIAT will identify priority sectors and products, translate procurement opportunities into viable industrial projects, and nominate eligible projects for funding. EDB will evaluate projects against risk and feasibility criteria, provide financing through a fast-track approval process, and monitor performance. ADNOC will align its procurement chains with the fund's priorities, share demand data, support supplier localisation, and stabilise demand through long-term contracts while participating in joint governance to accelerate implementation.
The NIRF will support industrial value chains across six strategic sectors: food industries, manufacturing, primary metals, mechanical, electrical and chemical industries, pharmaceuticals and medical supplies, and advanced technology and construction.