Emirates Development Bank (EDB) highlighted its role in driving economic development and industrial advancement in the UAE at the ACT Middle East Treasury Summit 2024 as part of its innovative solutions to support small and medium-sized enterprises (SMEs).
The UAE development lender reaffirmed its commitment to bridging the financing gap and prioritising strategic sectors. The bank’s debt approach, featuring long-term financing and competitive pricing, is designed to support projects with significant developmental impact.
EDB’s proprietary ‘Development Impact Scorecard’ ensures that projects align with national priorities.
To enhance SME access to financing, EDB has partnered with 11 major commercial banks to offer partial guarantees.
Tariq Fancy, EVP of Financial Market and Acting Chief of Treasury & Investments at EDB emphasised the importance of SMEs in national development and highlighted the bank’s tailored solutions, including specialised loan programs, financial literacy initiatives, and collaborations with commercial banks.
The summit provided a platform for treasurers, finance professionals, and industry leaders to discuss the latest trends and opportunities in the financial landscape. EDB’s participation underscores its commitment to knowledge sharing and building a more resilient and inclusive financial ecosystem in the region.
