Emirates Development Bank sets funding package of USD191m to...| MENAFN.COM

Saturday, 22 January 2022 12:01 GMT

Emirates Development Bank sets funding package of USD191m to industrial fields


(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.”

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