EDB Signs MoU With IDB To Continue Financial Ecosystem Programme


At the 'Make It in the Emirates' Forum, EDB strengthens its partnership with ADDED's Industrial Development Bureau.

A Memorandum of Understanding (MoU) was signed by the Emirates Development Bank (EDB), a crucial financial engine for the UAE's economic growth and industrial advancement, and the Industrial Development Bureau (IDB) of the Abu Dhabi Department of Economic Development to continue supporting the Financial Ecosystem Programme.

The Memorandum of Understanding was signed on the first day of the Make It in the Emirates Forum, which will be held at the Abu Dhabi Energy Centre from May 31 to June 1, 2023.

IDB's Financial Ecosystem Programme is intended to help local businesses connect quickly to the top lenders and financial solutions. With a few clicks, investors can use the financing facilitation tool to find the best financing from a number of regional banks. The Financial Ecosystem Programme is an easy and clear way for businesses operating in Abu Dhabi to get financing proposals from several banks at once, letting them select the deal that best suits their requirements.

Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, said, “We are pleased to be part of IDB’s Financial Ecosystem Programme, as this is a significant initiative in achieving the UAE’s Industrial Strategy. As a key financial engine for the economic development of the UAE, EDB is committed to enabling plans that strengthen the national industrial ecosystem across key sectors, driving global competitiveness and sustainable growth for the country.”

Eng. Arafat Al Yafei, Executive Director of IDB, said, “We look forward to further enhance the partnership with Emirates Development Bank as we are forging ahead with our efforts to achieve the objectives of the Abu Dhabi Industrial Strategy. As part of these initiatives, IDB have developed the financial ecosystem programme to enhance access to funding, equipping manufacturers, and investors with necessary support to benefit from ample, promising opportunities in Abu Dhabi’s industrial sector and the emirate’s business-friendly ecosystem.”

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