Emirates Development Bank (EDD) has entered into a partnership with the Abu Dhabi Exports Office (ADEX) to enhance export financing for manufacturers in the UAE. The collaboration, formalised through a MoU, aims to establish a comprehensive export financing framework valued at up to AED 1B.
The first tranche of this initiative, amounting to AED 367M was successfully utilised, representing a significant step in the framework’s execution.
The agreement was signed by the CEO of EDB and the Executive Director of ADEX, with senior representatives from both organisations in attendance.
This partnership is particularly beneficial for UAE manufacturers, especially SMEs since it provides manufacturers access to the financing facility facilitated by ADEX through EDB’s lending services.
The financing will play a crucial role in supporting working capital needs, enhancing export readiness, and improving short-term liquidity for businesses.
With these resources, companies can better position themselves to explore and expand into international markets, ultimately contributing to the UAE’s economic diversification and industrial transformation objectives.
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