EDB records $88.7mln in loan approvals since 2021 driving sector growth

EDB records $88.7mln in loan approvals since 2021 driving sector growth

Emirates Development Bank (EDB), the key financial engine for economic development and industrial advancement in the UAE, affirmed its commitment to advancing the healthcare sector through innovative financing solutions at the Arab Health exhibition 2024, the globally renowned healthcare expo held in Dubai from 29th January until 1st February.

EDB has approved a total of AED326 million in loans for the healthcare sector since the launch of the Bank’s strategy in 2021. Healthcare is one of the priority sectors that EDB targets with its range of flexible financial and non-financial solutions due to its development and deployment of advanced technology, its contribution to non-oil GDP and its importance to social and economic development.

Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, commented on the significance of the event, "Healthcare is one of the UAE’s most critical priority sectors, both in terms of its potential and its centrality to the wellbeing of our society, with AED5.2 billion of the UAE’s total approved Federal General Budget 2024 allocated to healthcare and community protection.

“Our presence at Arab Health demonstrates our commitment to fostering an ecosystem where healthcare institutions can thrive, innovate, and contribute to the nation’s socio-economic growth. We believe that a