EDB and ADEX Partner to Strengthen Export Financing for UAE Manufacturers
Abu Dhabi, United Arab Emirates- Emirates Development Bank (EDB), the UAE’s key financial engine supporting economic diversification and industrial transformation signed a Memorandum of Understanding (MoU) with Abu Dhabi Exports Office (ADEX), the export financing arm of Abu Dhabi Fund for Development (ADFD) to create a unified export financing framework for UAE-based manufacturers of up to AED 1 billion. The first tranche of AED 367 million under this framework was successfully drawn, a key milestone in the programme's implementation.
H.E Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank and Khalil Al Mansoori, Executive Director of ADEX signed the agreement in presence of high-level delegations from both organisations.
Through this partnership, EDB’s lending programmes will allow ADEX to provide an AED 367 million financing facility for UAE manufacturers and Small and Medium (SMEs). This enables working capital, export readiness and shorter-term liquidity needed for such expansion into international markets.
That is in line with and directly supports the “We the UAE 2031” vision that aims to establish a resilient and diversified economy.
H.E. Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank said: “Our partnership with ADEX is a strategic step to supporting the UAE’s export financing ecosystem. By bringing our capabilities together we are providing manufacturers with integrated financial solutions to support their growth into markets outside their domestic borders, as well as enhancing supplier resilience, and providing much needed short-term liquidity. EDB will continue to empower businesses fueling industrial growth, in line with its long-term goal of driving the UAE economy towards diversification and sustainability.”
On the agreement, Khalil Al Mansoori, Executive Director of ADEX commented: “Our partnership with Emirates Development Bank reaffirms our commitment to empower UAE products and enhance their participation in global markets by providing innovative financial solutions and sustainable partnerships. “With our industry expertise complementing EDB’s financial acumen, we believe we can offer UAE manufacturers the tools and support they need to grow their businesses, strengthen supply chains, and position themselves for sustainable growth.”
The agreement is aimed at UAE-based manufacturers across two dozen priority sectors, including advanced manufacturing, food security, healthcare and renewable energy, with emphasis on those with current or planned export operations.
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