The UAE's industrial sector has seen a significant increase in financing, driven by strong support from public and private institutions, UAE media say.
Publish dateMonday 13 January 2025 - 17:14
According to Amac News: Based on the media, These joint efforts play an important role in advancing the UAE's industrial growth and achieving the ambitious goals set by the country in the "Operation 300 Billion" initiative.
According to data from the Central Bank of the Emirates (CBUAE), banks operating in the UAE have invested 5.537 billion dirhams in the manufacturing sector during the first nine months of 2024, bringing total loans to this sector to a historic high of more than 94.85 billion dirhams.
The financing portfolio of this sector increased by about 6.2% during these nine months and reached this amount from 89.315 billion dirhams at the end of 2023, which represents a growth of more than 37% compared to the end of 2015.
Leading institutions such as the Emirates Development Bank (EDB), the Khalifa Fund for Business Development (KFED) and the Mohammed Bin Rashid Institute for SME Development are key sponsors of industrial projects, especially those that focus on innovation and technology.
These institutions offer a range of financing solutions and educational programs. This will empower entrepreneurs, increase the competitiveness of small and medium-sized enterprises (SMEs), and help them become an essential part of the UAE's growing industrial landscape.
EDB Bank follows a holistic approach to stimulate and develop local factories and offers a wide range of solutions and products to the sector.
Meanwhile, KFED plays an important role in supporting the industrial sector in the UAE and is involved in the financing and development of SMEs. The fund focuses on supporting local entrepreneurs and fostering industrial innovation through diverse financing solutions and specialized training programs.
The Mohammed Bin Rashid Institute for SME Development acts as a key platform for promoting entrepreneurship in the UAE, offering flexible financing programs and specialized advisory services to enhance the competitiveness of projects.
According to data from the Central Bank of the Emirates (CBUAE), banks operating in the UAE have invested 5.537 billion dirhams in the manufacturing sector during the first nine months of 2024, bringing total loans to this sector to a historic high of more than 94.85 billion dirhams.
The financing portfolio of this sector increased by about 6.2% during these nine months and reached this amount from 89.315 billion dirhams at the end of 2023, which represents a growth of more than 37% compared to the end of 2015.
Leading institutions such as the Emirates Development Bank (EDB), the Khalifa Fund for Business Development (KFED) and the Mohammed Bin Rashid Institute for SME Development are key sponsors of industrial projects, especially those that focus on innovation and technology.
These institutions offer a range of financing solutions and educational programs. This will empower entrepreneurs, increase the competitiveness of small and medium-sized enterprises (SMEs), and help them become an essential part of the UAE's growing industrial landscape.
EDB Bank follows a holistic approach to stimulate and develop local factories and offers a wide range of solutions and products to the sector.
Meanwhile, KFED plays an important role in supporting the industrial sector in the UAE and is involved in the financing and development of SMEs. The fund focuses on supporting local entrepreneurs and fostering industrial innovation through diverse financing solutions and specialized training programs.
The Mohammed Bin Rashid Institute for SME Development acts as a key platform for promoting entrepreneurship in the UAE, offering flexible financing programs and specialized advisory services to enhance the competitiveness of projects.
amacnews.com/vdci.qarct1awrli2t.html
Source : news agency wam
Most viewed
