The UAE Ministry of Industry and Advanced Technology (MoIAT) has secured $4.9 billion (AED18 billion) in competitive financing for the UAE’s industrial sector through a series of agreements with leading financial institutions.
The ministry signed Memoranda of Understanding (MoUs) with Mashreq Bank and Dubai Islamic Bank to provide $2.72 billion (AED10 billion) over five years and $544 million (AED2 billion), respectively.
Emirates Development Bank (EDB) allocated $1.63 billion (AED6 billion) under its ongoing partnership with MoIAT, bringing the total financing package to $4.9 billion (AED18 billion).
The agreements were signed during the fifth edition of the Make it in the Emirates platform in the presence of senior government officials and representatives from the banking and industrial sectors.
The financing arrangements are designed to provide companies with access to competitive and flexible funding solutions, enabling businesses of varying sizes to increase production capacity, adopt advanced technologies, and strengthen supply chains.
Officials stated that the initiative supports broader efforts to stimulate industrial investment while enhancing the resilience and efficiency of the sector.
Hasan Jasem Al Nowais Undersecretary of UAE MoIAT
“These partnerships reflect our approach to translating industrial strategy into action at scale and speed—strengthening ties with leading national financial institutions to support sustainable industrial growth and enhance supply chain resilience. The partnerships mark an important step forward in strengthening companies’ ability to grow, adopt advanced technologies, and contribute to the objectives of the National Strategy for Industry and Advanced Technology.”
Under the agreement, Mashreq Bank will offer a range of financial products, including green loans, sustainability-linked financing, supply chain financing programs, trade finance services, and advisory support.
These offerings are intended to support the growth of industrial exports and improve companies’ readiness for international markets.
Emirates Development Bank’s allocation is aimed at providing accessible and competitive funding solutions to support manufacturers in expanding operations and entering new markets.
Dubai Islamic Bank will provide Sharia-compliant financing solutions to support industrial enterprises, with a focus on improving operational efficiency and facilitating the adoption of advanced technologies.
Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, emphasized that the financing initiative reinforces the bank’s role in supporting the UAE’s industrial sector and aligns with the country’s economic diversification objectives.
Saud Al Jassim, Head of Business Banking at Dubai Islamic Bank, highlighted the importance of collaboration between the government and banking sector in enabling industrial growth through tailored financial solutions.
Ahmed Abdelaal, Group CEO of Mashreq, underscored that the agreement supports the UAE’s goal of increasing the industrial sector’s contribution to GDP to $81.6 billion (AED300 billion) by 2031, noting that the bank will provide financing, advisory services, and international market access to support industrial companies.
