(MENAFN) According to the Ministry of Industry and Advanced Technology of UAE, Emirates Development Bank has allotted a funding set that value over Dh700 million (USD191m) to the Emirate industrial field since the beginning of 2021.
On Wednesday, the ministry stated that the capital is allocated to industrial firms in five important fields: industry, technology, healthcare, food security as well as infrastructure, throughout the Global Manufacturing and Industrialisation Summit week happening at Expo 2020 Dubai.
Based on EDB, the funding is aimed to boost the performance and output of the industrial field and back the goals of the ministry and the bank.
Undersecretary of the Ministry of Industry and Advanced Technology, Omar Al Suwaidi has reported that the package fund is “represents a practical step towards achieving the UAE government’s comprehensive vision to support the transition towards a diverse and resilient knowledge economy.”
MENAFN27112021000045013568ID1103259064
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.