The Ministry of Industry and Advanced Technology secured AED 18 billion in competitive financing to support industrial companies in scaling production, adopting advanced technologies, and strengthening supply chains. Moreover, the package aims to accelerate industrial expansion and improve sector competitiveness.
The financing was announced during the fifth edition of Make it in the Emirates. Additionally, the ministry signed memoranda of understanding with Mashreq Bank and Dubai Islamic Bank, providing AED 10 billion over five years and AED 2 billion, respectively. Emirates Development Bank separately allocated AED 6 billion under its ongoing partnership with the ministry.
The agreements aim to provide flexible funding solutions for manufacturers of all sizes. As a result, the initiative supports investment activity while strengthening industrial resilience across priority sectors.
Agreements Signed to Support Industrial Growth
The memoranda were signed by Osama Amir Fadhel, Assistant Under-Secretary for the Industrial Accelerators Sector at the ministry, Saud Al Jassim, Head of Business Banking at Dubai Islamic Bank, and Joel D Van Dusen, Head of Corporate and Investment Banking Group at Mashreq, in the presence of Hasan Jasem Al Nowais, Under-Secretary of the ministry.
Al Nowais said, “These partnerships reflect our approach to translating industrial strategy into action at scale and speed, strengthening collaboration with leading national financial institutions to support sustainable industrial growth and enhance supply chain resilience.
“They mark an important step in enabling companies to grow, adopt advanced technologies, and contribute to the National Strategy for Industry and Advanced Technology, with financial institutions playing a vital role in aligning funding solutions with industrial priorities,” he added.
Banks Outline Funding and Market Expansion Support
Mashreq Bank said it will offer financial solutions including green loans, sustainability-linked financing, supply chain finance, trade services, and advisory support. Moreover, these services aim to help industrial companies expand into global markets.
Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, said, “The AED6 billion financing underscores our commitment to strengthening the UAE’s industrial sector by offering accessible and competitive funding that supports growth, enhances competitiveness, and enables expansion into new markets.”
Saud Al Jassim said the agreement highlights the importance of cooperation between government and the banking sector. Additionally, he said Dubai Islamic Bank will provide Sharia-compliant financing to strengthen operational efficiency and competitiveness.
Ahmed Abdelaal, Group CEO of Mashreq, said the bank will deploy AED 10 billion over five years through financing, supply chain solutions, and trade services. Therefore, the programme supports the UAE’s objective of raising the industrial sector’s GDP contribution to AED 300 billion by 2031.
MoIAT said partnerships with national financial institutions remain central to supporting localisation and building a diversified, knowledge-based economy.
