The Abu Dhabi Department of Economic Development (ADDED) has introduced the ‘Business Financing Facilitation Platform’ to improve financial access for manufacturers and align with the goals of the Abu Dhabi Industrial Strategy (ADIS).
The platform, part of ADDED’s Financial Ecosystem Programme, is designed by the Industrial Development Bureau (IDB) to serve as a simplified gateway for industrial investors, offering easier access to various financing solutions.
This platform aims to streamline financial processes, allowing investors to select tailored services and products from multiple financial and banking partners with ease.
IDB has collaborated with various public and financial institutions, including ADX, ADIPOF, Khalifa Fund For Enterprise Development, EDB, SDF, export agencies like ECI and ADEX, and 14 major banks.
“The platform provides a unified platform enabling industrial investors to connect with multiple agencies, ensuring a seamless user experience and enhancing their access to finance,” said Arafat Al Yafei, Executive Director of the IDB. “It aligns with the broader objectives of ADDED to develop the industrial sector, which plays a vital role in Abu Dhabi’s next phase of economic diversification.”
Forming a significant part of ADIS, the ‘Financial Ecosystem Programme’ emphasizes Abu Dhabi’s dedication to enhancing the industrial sector’s competitiveness and development.
The ‘Business Financing Facilitation Platform’ is expected to generate positive socio-economic impacts by fostering industrial growth, creating jobs, encouraging innovation, supporting entrepreneurship, and contributing to Abu Dhabi’s economic progress.
This initiative is among the strategies devised by ADDED’s IDB to elevate the industrial sector’s value chain through transformative programs.
Abu Dhabi is investing Dh10 billion in six major programs, including Industry 4.0, Circular Economy, Talent Development, Ecosystem Enablement, Homegrown Supply Chain, and Value Chain Development. These programs aim to significantly increase the manufacturing sector’s contribution to GDP, create skilled jobs, and boost non-oil exports by 2031.