emirates7 - The Emirates Development Bank (EDB), the key financial engine for the UAE's economic diversification and industrial transformation, has provided AED 272 million in financing to support 30 companies in the Emirate of Umm Al Qaiwain over the past three years.
This comes as part of its strategic partnership with the Umm Al Qaiwain Chamber of Commerce and Industry, aimed at stimulating the growth of key economic sectors and supporting the emirate’s sustainable development goals.
The financing covered five main sectors: industry, food security, healthcare, as well as advanced technology and renewable energy. This reflects the country’s direction toward building a competitive economy based on diversification, innovation, and sustainability.
This partnership is part of ongoing efforts 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, emphasised the bank’s commitment to supporting the growth of companies in vital sectors by providing specialized financing solutions that enable 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.
For his part, Ahmed Obaid, Director General of the Umm Al Qaiwain Chamber of Commerce and Industry, said that this achievement highlights 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.
This comes as part of its strategic partnership with the Umm Al Qaiwain Chamber of Commerce and Industry, aimed at stimulating the growth of key economic sectors and supporting the emirate’s sustainable development goals.
The financing covered five main sectors: industry, food security, healthcare, as well as advanced technology and renewable energy. This reflects the country’s direction toward building a competitive economy based on diversification, innovation, and sustainability.
This partnership is part of ongoing efforts 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, emphasised the bank’s commitment to supporting the growth of companies in vital sectors by providing specialized financing solutions that enable 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.
For his part, Ahmed Obaid, Director General of the Umm Al Qaiwain Chamber of Commerce and Industry, said that this achievement highlights 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.
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