Emirates Development Bank to provide Dh30bn in financing to help boost industrial sector

SourceThe National
SectorFinancial Services
CountryUAE

Emirates Development Bank will provide Dh30 billion of financing over the coming five years that will support UAE Government efforts to more than double the size of the industrial sector in the coming decade. The announcement was made on Monday by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. The financing from EDB will help create and back 13,500 new companies in various sectors over the coming years and create 25,000 jobs, Sheikh Mohammed bin Rashid said on Twitter as he launched the initiative. "The Strategy of Emirates Development Bank is an additional ambitious engine for the development of the national ...read more...