ADEX And EDB Form Strategic Partnership To Unlock AED 1 Billion In Export Financing For UAE Industries

Abu Dhabi Exports Office (ADEX) and Emirates Development Bank (EDB) have formed a strategic alliance to allocate AED1 billion to support UAE exporters and manufacturers. This collaboration was formalised in the presence of Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development. The agreement was signed by Ahmed Mohamed Al Naqbi, CEO of EDB, and Khalil Fadel Al Mansoori, Executive Director of ADEX.

The partnership aims to bolster UAE companies, particularly those in the private manufacturing sector, by facilitating their entry into international markets. It focuses on supporting capital expenditure and promoting export-driven growth. This initiative aligns with the UAE’s National Strategy for Industry and Advanced Technology, which seeks to enhance the industrial sector's GDP contribution and establish the UAE as a hub for future industries.

Ahmed Mohamed Al Naqbi highlighted that this partnership provides UAE manufacturers with the necessary scale and strategic backing to expand internationally. He stated: "This partnership with ADEX gives UAE manufacturers with export ambitions the scale, certainty, and strategic backing they need to grow beyond borders." Since 2021, EDB has committed over AED 18.7 billion in financing, catalysing AED 64 billion in capital expenditure and supporting more than 32,000 industrial jobs nationwide.

Khalil Fadel Al Mansoori expressed that ADEX aims to position the UAE as a competitive global trade partner through this collaboration. He remarked: "Our vision at ADEX has always been to position the UAE as a trusted and competitive global trade partner." The initiative will empower UAE exporters by providing them with essential financing to access new markets and expand their operations.

This initiative is exclusively available to private-sector companies based in the UAE. To qualify for funding, businesses must operate within the manufacturing sector and either generate or demonstrate a clear path towards export-based income. This criterion ensures that the partnership effectively accelerates non-oil export growth in the UAE.

The collaboration between ADEX and EDB represents a significant step towards economic diversification in the UAE. By combining their expertise and resources, both institutions aim to deliver innovative financing solutions tailored to local exporters' needs. This approach ensures robust support for long-term growth and enhances global competitiveness.

The agreement was unveiled during the Make it in the Emirates event, highlighting its importance as a strategic partnership between two key export enablers in the country. It reflects a shared commitment to fostering sustainable industrial growth while extending support to businesses ready for international expansion.

This initiative underscores the maturity of the UAE as an exporting nation where government entities collaborate closely to build a diversified economy. By focusing on empowering local exporters with financial tools, this partnership contributes significantly to shaping the next chapter of economic development in the region.

With inputs from WAM