Page 141 - ETIHAD CREDIT INSURANCE PR REPORT - OCTOBER 2024

10/31/24, 9:34 AM Emirates Development Bank achieved impressive cumulative financing of AED12.9 bn by Q3 – UAE Business and Travel Insights …
harnessing the emirate’s well-developed and tech-friendly infrastructure and strengthen its position globally as
one of the major manufacturing and exporting cities in the world.

This edition of EDB Connect serves as a pivotal opportunity for EDB and its stakeholders, as it continues to
promote strategic collaborations and partnerships among the emirate’s prominent market leaders. It also
underscores the bank’s dedication to reinforcing Dubai’s status as a global leader in impact investing and
Industry 4.0.

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

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