Abu dhabi: Emirates Development Bank (EDB) and Abu Dhabi Exports Office (ADEX) have forged a strategic partnership to establish a unified export financing framework worth up to AED1 billion for manufacturers based in the UAE. This initiative aims to enhance the economic diversification and industrial transformation of the nation by providing crucial financial support to local manufacturers.
According to Emirates News Agency, the agreement, which marks a significant milestone with the successful drawing of the first AED367 million tranche, was formalized with the signing by EDB CEO Ahmed Mohamed Al Naqbi and ADEX Executive Director Khalil Al Mansoori. The ceremony, attended by high-level delegations from both organizations, underscores the collaborative efforts to bolster the UAE’s export market.
The partnership facilitates access to a substantial AED367 million financing facility for UAE manufacturers, including SMEs, through ADEX’s provision via EDB’s lending programmes. This financial support is designed to aid working capital, enhance export readiness, and provide short-term liquidity, enabling businesses to expand into international markets in alignment with the ‘We the UAE 2031’ vision for a diversified economy.
Ahmed Mohamed Al Naqbi emphasized the strategic nature of the partnership, noting its role in strengthening the UAE’s export financing ecosystem. He highlighted how the collaboration enhances supply chain resilience while providing essential liquidity, thus empowering businesses that contribute to the UAE’s long-term economic diversification.
Khalil Al Mansoori reiterated ADEX’s commitment to empowering UAE exports and ensuring their robust presence in global markets through innovative financial solutions. By leveraging the combined expertise of ADEX and EDB, the initiative aims to equip UAE manufacturers with the necessary tools to expand operations and achieve sustainable growth.
The agreement specifically targets UAE manufacturers in priority sectors such as advanced manufacturing, food security, healthcare, and renewable energy. The focus is on companies with active or planned export operations, ensuring that the support is directed towards strategic areas of development.