MoU aligns with EDB’s continuous efforts to enable the industrial transformation agenda
Emirates Development Bank (EDB) recently signed an MoU with Industrial Cities and Free Zone Cluster of AD Ports Group to support the industrial sector in the emirate and the UAE.
Ahmed Mohamed Al Naqbi, CEO, EDB, and Abdullah Al Hameli, Head of the Industrial Cities and Free Zone Cluster at AD Ports Group, signed the MoU, under which EDB will provide innovative financial solutions to the industry players who are part of the AD Ports Group ecosystem in KIZAD and ZonesCorp and support their growth and expansion.
The financial solutions can be utilised to build new facilities, purchasing, or leasing existing facilities as well as acquiring, upgrading, and maintaining the units’ physical assets, among other things.
“Our collaboration with AD Ports Group will help support the UAE’s goals to build a robust knowledge-based economy and contributing to sustainable economic development,” commented Al Naqbi.
The MoU aligns with EDB’s continuous efforts to enable the industrial transformation and economic diversification agenda in the UAE, build a knowledge-based economy, increase global competitiveness and sustainable growth. ‘In line with this, our partnership with EDB is aimed at broadening the support to our clients by facilitating the financing solutions to enable growth and expansion plans of industrial companies and contributing to the UAE’s ‘Operation 300bn’ Industrial strategy,” remarked Al Hameli.