ADEX–EDB partnership to unlock Dh1 billion in export financing for UAE industries
19 May 2025 21:42
ABU DHABI (WAM)Abu Dhabi Exports Office (ADEX), part of Abu Dhabi Fund for Development (ADFD), and Emirates Development Bank (EDB), the UAE's key financial engine for economic diversification and industrial transformation, have signed a strategic partnership agreement to deploy Dh1 billion over the coming years to UAE-based exporters and manufacturers.The agreement was witnessed by Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development and Chairman of the Exports Executive Committee at the Abu Dhabi Exports Office. It was signed by Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, and Khalil Fadel Al Mansoori, Executive Director of the Abu Dhabi Exports Office.Unveiled during the Make it in the Emirates, the agreement marks a strategic partnership between two of the country's most important export enablers. It will enable UAE companies, particularly private-sector manufacturers, to expand into global markets by supporting capital expenditure, accelerating export-led growth, and contribute to the UAE's economic diversification efforts.The strategic initiative is directly aligned with the UAE's National Strategy for Industry and Advanced Technology, which aims to increase the industrial sector's contribution to GDP, accelerate the adoption of advanced technologies and transform the UAE into a regional and global hub for future industries.Through this partnership, both institutions will combine their expertise and resources to deliver innovative financing tools tailored to the needs of local exporters, ensuring a robust support system that fosters long-term growth and global competitiveness.Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, said: 'This partnership with ADEX gives UAE manufacturers with export ambitions the scale, certainty, and strategic backing they need to grow beyond borders. At EDB, we've already committed more than Dh18.7 billion in financing since 2021, helping to catalyse Dh64 billion in capital expenditure and supporting over 32,000 industrial jobs across the country. This agreement builds on that momentum, reinforcing our role as a national enabler of sustainable industrial growth and extending our support to the export-ready businesses shaping the next chapter of the UAE's economic story.'Khalil Al Mansouri, Executive Director of Abu Dhabi Exports Office, added: 'Our vision at ADEX has always been to position the UAE as a trusted and competitive global trade partner. This collaboration with Emirates Development Bank will directly support that goal by empowering UAE exporters with the financing required to access new markets and scale their operations. "We are grateful to EDB for their partnership, and proud that this initiative reflects the UAE's growing maturity as an exporting nation where government entities work hand-in-hand to build the foundations of a diversified and resilient economy.'
The initiative will be available exclusively to UAE-based private-sector corporates, with funding eligibility contingent on a core set of strategic criteria designed to maximise national impact. To qualify, companies must operate within the manufacturing sector and either generate or demonstrate a clear pathway toward export-based income, reinforcing the partnership's shared goal of accelerating the UAE's non-oil export growth.
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