Emirates Development Bank Deploys US$5.45 Million Daily To Support UAE Businesses And Maintain Market Stability

Abu Dhabi-based Emirates Development Bank (EDB) has said that it is allocating an average of AED20 million (US$5.45 million) in financing daily to support business continuity and maintain market stability across the UAE. 

In a statement, the bank shared that the funding is aimed at helping companies manage immediate liquidity needs in a global environment marked by supply chain disruptions and shifting market conditions. By directing financing to manufacturers, technology firms, and food producers, EDB aims to support continued operations, timely procurement of raw materials, and the stability of domestic supply chains. 

To facilitate access to funding, EDB has revised its operating framework, including easing liquidity policies, reducing loan approval requirements, and updating its funding and capital structures. EDB is implementing its financing strategy through partnerships with local banks and credit fintech companies to expand access, particularly for micro, small, and medium-sized enterprises (mSMEs). 

HE Ahmed Mohamed Al Naqbi, CEO of EDB, said, "When global supply chains tighten, speed is everything. Deploying AED20 million a day is our direct answer to the market's need for agility and certainty. We are not just making high-level announcements; we are putting essential working capital into the accounts of the businesses that need it right now. As a trusted financial partner, we use robust credit risk analytics to move quickly and safely, ensuring our national champions and mSMEs have the capital relief and guidance required to weather any storm and capture new opportunities." 

Since launching its current strategy in 2021, EDB said its financing activities have contributed AED11.3 billion ($3.08 billion) to the UAE’s non-oil gross domestic product and supported AED74.6 billion ($20.31 billion) in industrial capital expenditure.