EDB seals MoU with ADDED’s Industrial Development Bureau

EDB seals MoU with ADDED’s Industrial Development Bureau

Emirates Development Bank (EDB), a key financial engine of the UAE’s economic development and industrial advancement, has signed a Memorandum of Understanding (MoU) with the Abu Dhabi Department of Economic Development’s Industrial Development Bureau (IDB) to continue its support of the Financial Ecosystem Program.

IDB’s Financial Ecosystem Program is designed to assist local companies in accessing the best finance providers and products efficiently. The financing facilitation platform allows investors to seek the most appropriate financing from a range of local banks with a few clicks.

The Financial Ecosystem Program is a simple and straightforward method for Abu Dhabi-based companies to receive finance offers from a range of banks all at once, allowing them to choose the package that best meets their needs.

Mr. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, stated that, “We are pleased to be part of IDB’s Financial Ecosystem Program, as this is a significant initiative in achieving the UAE’s Industrial Strategy. As a key financial engine for the economic development of the UAE, EDB is committed to enabling plans that strengthen the national industrial ecosystem across key sectors, driving global competitiveness and sustainable growth for the country.”

Eng. Arafat Al Yafei, Executive Director of IDB, commented that, “We