The Emirates Development Bank pumps 20 million dirhams daily to ensure the continuity of companies’ work and market stability

The Emirates Development Bank announced the injection of effective financing estimated at approximately 20 million dirhams daily, with the aim of ensuring the continuity of the work of companies in the UAE.

In the current rapidly changing global environment, supply chains are lagging and markets are witnessing sudden shifts, which can directly impact companies’ operations. Here the role of the Emirates Development Bank is highlighted as one of the tools that the UAE employs to provide the necessary support to the current market needs.

The daily financial support injection specifically aims to address urgent liquidity requirements on the ground, as by providing rapid financing to manufacturers, technology companies, and food producers, the bank ensures the continuity of factory operations, purchases raw materials on time, and maintains local supply networks in the country with complete isolation from global market fluctuations.

In this context, Ahmed Mohammed Al Naqbi, CEO of the Emirates Development Bank, said: “When pressures on global supply chains increase, speed becomes the decisive factor. We continue to pump 20 million dirhams daily as part of our direct response to the market’s need for flexibility and reliability, and we seek to provide essential working capital in the accounts of companies that desperately need it. As a reliable financial partner, we rely on strong credit risk analyzes to help us act quickly and safely, ensuring Giving national companies, micro-enterprises and small and medium enterprises the financial support and guidance necessary to overcome any challenges and seize new opportunities for growth.”

In order to maintain an accelerated pace in providing financing, the Emirates Development Bank has comprehensively updated the paths to access its services intended for companies. The most prominent major updates include liberalizing the bank’s liquidity policy, significantly reducing loan approval requirements with the aim of rapid access to financing, in addition to modernizing the financing and capital frameworks aimed at better supporting companies in light of the current economic conditions. These measures aim to ensure the bank’s ability to respond quickly to market requirements, while enhancing its role as an engine of industrial growth and supply chain flexibility.

Since rapid access to companies requires a strong communication system, Emirates Development Bank implements this strategy daily through active partnerships with local banks and credit financial technology companies. These partnerships are essential to ensure seamless contactless transactions, allowing MSMEs to access Emirates Development Bank financing at unprecedented speed.

Since launching its ambitious strategy in 2021, the Emirates Development Bank’s direct financing has succeeded in creating a tangible economic impact, contributing AED 11.3 billion to the UAE’s non-oil GDP, in addition to saving AED 74.6 billion in industrial capital spending.

As it continues to pump 20 million dirhams daily into the economy within five priority sectors: industry, advanced technology, health care, renewable energy and food security, the Emirates Development Bank emphasizes the importance of the role of the UAE as a safe haven for businesses, in addition to its importance as a market that works effectively to protect the private sector and accelerate its growth on a daily basis.