Umm al qaiwain: The Emirates Development Bank (EDB) has extended AED 272 million in financing to support 30 companies in the Emirate of Umm Al Qaiwain over the past three years. This initiative is part of a strategic partnership with the Umm Al Qaiwain Chamber of Commerce and Industry, focusing on stimulating growth in key economic sectors and supporting the emirate's sustainable development goals.
According to Emirates News Agency, the financing supports five main sectors: industry, food security, healthcare, advanced technology, and renewable energy. This aligns with the UAE's strategic direction to build a competitive economy based on diversification, innovation, and sustainability. The partnership aims to enhance private sector competitiveness, stimulate investment in priority sectors, and strengthen Umm Al Qaiwain's position as an attractive destination for business and high-quality projects.
Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, highlighted the bank's commitment to supporting the growth of companies in vital sectors through specialized financing solutions that promote expansion and long-term sustainability. He noted that the partnership with the Umm Al Qaiwain Chamber of Commerce and Industry reflects a shared vision to empower businesses, enhance industrial capabilities, and contribute to the UAE's economic development.
Ahmed Obaid, Director General of the Umm Al Qaiwain Chamber of Commerce and Industry, emphasized the strength of the strategic partnership with Emirates Development Bank and its impact on empowering companies and enhancing their growth and sustainability. He reaffirmed the Chamber's commitment to continuing support for its members and facilitating access to financing opportunities, contributing to a stimulating business environment that supports sustainable economic growth in Umm Al Qaiwain.