UAE’s FAB to provide $1.36bn in financing solutions to investors

UAE’s FAB to provide $1.36bn in financing solutions to investors

First Abu Dhabi Bank (FAB) has partnered with the Ministry of Industry and Advanced Technology (MoIAT) to provide financing solutions to the tune of $1.36bn (Dhs5bn) to local and foreign investors in the industrial and advanced technology sector. The deal, which is supporting the Make it in the Emirates initiative, aims to support small and medium-sized enterprises (SMEs) by offering industry-related advice, data sharing, and collaboration expertise. will offer competitive financing solutions to support the adoption of advanced technology in the industrial sector. The financing solutions include structured financing, capital investments, business expansion financing, green financing and support for startups and SMEs. The Abu Dhabi-based lender will also provide industry-specific financial advisory services to cater to the unique needs of these sectors. Through the ‘Make it in the Emirates’ initiative, MoIAT ensures competitive financing solutions with favourable profit rates and flexible repayment periods to promote investments in the country’s industrial sector. “In offering flexible financing solutions to companies in the industrial and advanced technology sectors, including startups, emerging companies and SMEs, we aim to provide key enablers and incentives that drive the growth and competitiveness of the industrial sector,” said Omar Al Suwaidi, Under-Secretary of the MoIAT. Al Suwaidi underscored