Emirates Development Bank, the state-owned lender focused on financing companies in key industrial sectors, aims to approve up to Dh9 billion ($2.45 billion) in funding this year to support UAE's industrial sector growth, according to its chief executive.
“We have an approximation of about Dh8 billion to Dh9 billion of approvals that we'll have throughout the year, and everything's on track as expected,” Ahmed Al Naqbi, said in Abu Dhabi.
The lender has disbursed Dh26 billion to support local industries since the launch of UAE’s Operation 300bn strategy in 2021, he said.
Despite the current situation in the wake of the regional conflict, EDB does not “foresee any changes” in its funding plans this year, he added.
Mr Al Naqbi made the remarks while speaking to The National on the sidelines of a media briefing organised to provide details on Make it in the Emirates forum to be held in Abu Dhabi next month.
EDB plays a key role in supporting the national economic development agenda and is at the forefront of the government’s efforts to develop its non-oil economic and industrial base.
The lender provides direct and indirect financing to start-ups, small and medium enterprises and large corporates, sponsoring industrial projects across five priority sectors. These are: manufacturing, infrastructure, advanced technology, food security and health care.
More than 1,000 UAE based companies are expected to take part in Make it in the Emirates forum from May 4 to 7 at Abu Dhabi National Exhibition Centre, with the number of companies participating this year to rise by 42 per cent compared to the previous edition, according to officials.
Sixty per cent of participating firms will be from small and medium enterprises operating in the Emirates.
New funding opportunities to support industrial sector are also expected to be announced during the event, Osama Fadhel, assistant undersecretary of industrial accelerators at Ministry of Industry and Advanced Technology, said.
“During the last edition in 2025, we announced funding opportunities of Dh40 billion in co-operation with some local and international banks for the industrial sector," he said.
“We will announce new initiatives pertaining to funding industrial sector, which should empower the resilience of the industrial sector and enable us to attract investments.”
Last year, the UAE also announced the launch of Emirates Growth Fund, a Dh1 billion investment platform, under the Emirates Development Bank, to support small and medium enterprises in strategic sectors of manufacturing, health, food security, and advanced technology.
The UAE has been focusing on industrial growth as it diversifies its economy away from oil. The Emirates launched Operation 300bn in 2021 to position itself as an industrial centre by 2031.
“In light of recent developments, it is increasingly evident that advancing local manufacturing and building resilient supply chains is no longer solely a matter of economic development," Omar Al Nuaimi, acting group chief of commercial and in-country value at Abu Dhabi National Oil Company, said during the media briefing.
"It has become a fundamental enabler of business continuity, operational security, and supply chain resilience.”
Adnoc continues to create long-term value by enabling partners and accelerating industrial development through its In-Country Value (ICV) programme, he said.
A total of Dh65 billion has been injected into UAE’s economy in 2025 and Dh307 billion since 2018 through Adnoc’s ICV programme.
Adnoc plans to redirect an additional Dh200 billion into the local economy in the coming five years to support growth, Mr Al Nuaimi added.
