Emirates NBD, Siemens to boost financing for large-scale green infrastructure projects
DUBAI (WAM) Emirates NBD has partnered with Siemens to announce an innovative finance and resourcing agreement aimed at accelerating the funding of future green infrastructure projects in the UAE.The agreement is the culmination of an extensive and strategic collaboration that synergises technology, sustainability, and finance, and is fully aligned with the UAE's Net Zero by 2050 Strategic Initiative.Emirates NBD was approached by Siemens to develop and design the administrative, technical and structural aspects of the agreement. This collaboration resulted in the creation of a unique credit framework, complemented by an innovative suite of financing tools.These resources will support green infrastructure projects from installation through their entire lifecycle, including decarbonisation efforts.Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said, 'Emirates NBD's role in developing this expansive agreement with Siemens highlights our commitment to helping the UAE reach its sustainability and decarbonisation ambitions.It reinforces our goal to expand important working relationships with multinational conglomerates that share our ESG vision and are eager to establish new opportunities for growth within the fields of energy efficiency and sustainable technologies.'
Helmut von Struve, CEO of Siemens in the UAE, said, 'Decarbonising infrastructure is a critical part of achieving the energy transition. The technologies required to accelerate energy efficiency progress are available today, but implementation needs to speed up to reach global goals.'
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