The UAE Ministry of Industry and Advanced Technology has secured over AED 40 billion in financing to boost the country’s industrial sector, following the signing of five major agreements with leading national banks.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, witnessed the signing of Memoranda of Understanding with First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO Bank.
The agreements aim to provide competitive financing for industrial companies, particularly small and medium-sized enterprises, and to support investment in advanced technologies across the UAE.
Omar Al Suwaidi, Under-Secretary at the Ministry, said the initiative reflects the Ministry’s commitment to empowering the industrial sector through strategic partnerships with top financial institutions.
He added that the MoUs will help SMEs scale, innovate and contribute to the UAE’s goal of building a diversified, knowledge-based economy.
The partnerships will foster entrepreneurship, enhance access to flexible financing, and further strengthen collaboration between the government and financial sector in advancing the UAE’s economic resilience and sustainability.
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