Emirates NBD has partnered with Siemens, a global technology leader, to announce an innovative finance and resourcing agreement aimed at accelerating the funding of future green infrastructure projects in the UAE.
The landmark agreement is the culmination of an extensive and strategic collaboration that synergizes technology, sustainability, and finance and is fully aligned with the UAE’s Net Zero by 2050 Strategic Initiative. A key objective of this initiative is to enhance and integrate energy efficiency projects, prio2itizing sustainability through the adoption of cutting-edge technologies.
Throughout the agreement’s development, both Emirates NBD and Siemens demonstrated a strong commitment to aligning on critical areas related to credit and operational considerations. The structure of this deal is designed to serve as a replicable model for future initiatives, reinforcing Emirates NBD’s role as a catalyst for sustainable development.
Ahmed Al Qassim Group Head of Wholesale Banking Emirates NBD
“Emirates NBD’s role in developing this expansive agreement with Siemens highlights our commitment to helping the UAE reach its sustainability and decarbonization ambitions. It reinforces our goal to expand important working relationships with multinational conglomerates that share our ESG vision and are eager to establish new opportunities for growth within the fields of energy efficiency and sustainable technologies. By increasing our presence in the sustainability sector, Emirates NBD is well positioned to become the banking partner of choice to provide clients with access to the trusted, secure, and transparent financing solutions they need to drive continuous innovation and long-term success.”
As the UAE’s leading financial institution, Emirates NBD was approached by Siemens to develop and design the administrative, technical, and structural aspects of the agreement. This collaboration resulted in the creation of a unique credit framework, complemented by an innovative suite of financing tools. These resources will support green infrastructure projects from installation through their entire lifecycle, including decarbonization efforts.
Helmut von Struve, CEO of Siemens in the UAE, said that, “Decarbonizing infrastructure is a critical part of achieving the energy transition. The technologies required to accelerate energy efficiency progress are available today, but implementation needs to speed up to reach global goals.”
“As a proud member of the Global Energy Efficiency Alliance, an initiative spearheaded by the Ministry of Energy and Infrastructure in the UAE, we are leveraging our global expertise in energy efficiency to support the UAE’s Net Zero goals. Collaboration is at the heart of transformation and by working together with governments, industries, and financial institutions, we can scale the solutions needed to drive meaningful change,” the CEO of Siemens UAE added.
