UAE, 19 May, 2025 : The UAE will provide Dh40 billion ($10.89 billion) in financing to industrial companies over the next five years, as part of its push to expand the nation's manufacturing base, Minister of Industry and Advanced Technology Dr Sultan Al Jaber announced at the Make it in the Emirates forum in Abu Dhabi.
The initiative involves support from major lenders including Emirates Development Bank, First Abu Dhabi Bank, Mashreq, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and Wio Bank.
Additionally, a Dh1 billion Emirates Growth Fund will be launched under the Emirates Development Bank to support SMEs in key sectors such as manufacturing, healthcare, food security, and advanced technology.
Dr Al Jaber highlighted plans to increase industrial procurement opportunities to Dh168 billion over the next decade and to localise the production of over 4,800 products. The financing drive supports the UAE’s broader Operation 300bn strategy to establish itself as a global industrial hub by 2031.
Source : www.thenationalnews.com
