Commercial Bank of Dubai (CBD) has extended an AED 550 million credit facility to Siemens Energy LLC, the UAE unit of Siemens Energy. This funding will help the company execute its expanding pipeline of projects and support future growth.
Strengthening Financial and Strategic Growth
Dr. Bernd van Linder, CEO of CBD, highlighted the significance of the partnership. He stated that the facility reinforces CBD’s financial strength and ability to support global corporations. Additionally, it strengthens the bank’s role as a trusted financial partner in the UAE.
Robert McAnally, Head of Treasury and Corporate Finance at Siemens Energy, emphasized the need for financial resilience. He explained that the facility enhances Siemens Energy’s ability to navigate industry challenges. Moreover, it supports the Middle East’s transition to sustainable energy solutions.
Advancing the UAE’s Energy Ambitions
This agreement aligns with CBD’s strategy to expand its market presence by offering customized financial solutions. It also strengthens the bank’s role in the UAE’s growing energy sector.
The energy industry remains a key driver of economic progress in the UAE. CBD’s collaboration with Siemens Energy reflects its commitment to supporting innovation and sustainability. As the region continues to develop as a global energy hub, such partnerships will play a vital role in shaping the future.
