Abu dhabi: Emirates Development Bank (EDB), in partnership with Zelo, an ADGM-regulated private financing platform and a subsidiary of IHC, has unveiled an AED350 million financing programme designed to accelerate payments on approved Government and Government Related Entity (GRE) invoices. This initiative, announced during EDB's participation in Make it in the Emirates, aims to support the UAE's industrial growth by enabling SMEs to enhance cash flow, expand operations, and play a larger role in national supply chains.
According to Emirates News Agency, the programme offers SMEs up to 95 percent of the approved invoice value within 24 hours, addressing working capital constraints related to government contracts. Delivered through EDB 360, the bank's digital platform, the initiative provides rapid and seamless access to invoice financing in collaboration with Zelo.
Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, stated that strengthening SME liquidity is crucial for building a resilient and competitive industrial ecosystem. The programme assists businesses in bridging working capital gaps, securing larger contracts, and integrating more effectively into national supply chains, advancing the UAE's industrial growth and reinforcing the role of SMEs in economic diversification.
Dhanush Arjun, Chief Executive Officer of Zelo, highlighted that the partnership reflects Zelo's mission to simplify and expedite working capital for SMEs, which are essential to the UAE's industrial economy. Coupled with EDB's commitment to SME enablement, this collaboration sets a new standard for supply chain finance in the region, providing government and GRE suppliers the financial certainty to grow alongside the UAE's industrial ambitions.
The initiative integrates financing directly into procurement cycles, enhancing supply chain resilience by maintaining consistent liquidity for SME suppliers. It mitigates payment delays that could hinder project delivery, enabling businesses to operate with improved certainty and efficiency, thereby increasing SME participation in strategic projects and strengthening local value chains.
Additionally, the initiative aligns with Operation 300bn, the UAE's industrial strategy aimed at increasing the industrial sector's GDP contribution from AED133 billion to AED300 billion by 2031, focusing on industrial expansion, innovation, and sustainable production.