Page 126 - ETIHAD CREDIT INSURANCE PR REPORT - OCTOBER 2024

10/28/24, 5:14 PM Emirates Development Bank achieved impressive cumulative financing of AED12.9 bn by Q3 – The UAE Press
Since announcing its strategy in April 2021, EDB has achieved an impressive cumulative
financing of AED 12.9 billion, significantly contributing to the nation’s GDP. Of this, AED 4.4

billion has been specifically allocated to the development and growth of Dubai’s key
sectors. This substantial investment highlights the bank’s dedication to enhancing the

UAE’s economic landscape and promoting sustainable growth throughout the region.

Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank,

emphasised the importance of EDB Connect as an ideal platform to discuss economic
trends, strategic partnerships and collaboration, and governmental incentive schemes that

can support local businesses and SMEs to upscale their operations and enhance their
growth trajectory.

He stated “Dubai has always been recognized with its well-advanced and flexible
infrastructure that fits all businesses from different natures and sizes. However, today we

live in a very fast-changing environment that requires prompt and quick adoption of
advanced and ready-to-utilize solutions. Consequently, it’s critically important we host such

platforms that bring key industry players together under one roof to exchange ideas,

recognize challenges, and brainstorm solutions.”

He added “We unite here today under a shared vision, to shape and propel the UAE’s
economic diversification and industrial growth. As we spearhead the nation’s development

efforts by optimizing its investment portfolio across critical industries, we embrace a vital

responsibility of nurturing our nation’s growth and ensuring its future readiness. This
commitment aligns with the long-term economic vision of our leadership and supports our

corporate and business objectives. Together, we are not just participants in this journey; we
are the architects of a resilient and prosperous future.”

This edition of EDB Connect featured three key panel discussions, which were moderated
by EDB’s senior officials. The first panel, titled “Dubai – A Global Hub for Impact Investing”

explored Dubai’s potential to become a global leader in impact investing by leveraging its
strategic location and economic strength. The second panel, titled “Dubai – The Advanced

Manufacturing Powerhouse” looked at the possibilities of transforming Dubai into a hub of
advanced manufacturing solutions driven by local innovation. The third panel, titled

“Artificial Intelligence: The Engine of Modern Economy” discussed the role of AI in driving
businesses and enhancing their operational efficiency.

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