Emirates Development Bank Provides AED 272 Million to Boost Renewable Energy and Industrial Growth in Umm Al Qaiwain

The Emirates Development Bank (EDB), a key financial driver of the UAE’s economic diversification and industrial transformation, has extended AED 272 million in financing to support 30 companies in the Emirate of Umm Al Qaiwain over the past three years.

The funding initiative is part of a strategic partnership between EDB and the Umm Al Qaiwain Chamber of Commerce and Industry, aimed at accelerating growth across key economic sectors and supporting the emirate’s sustainable development objectives.

According to the bank, the financing spans five priority sectors, including industry, food security, healthcare, advanced technology, and renewable energy, aligning with the UAE’s broader vision of building a diversified, innovation-driven, and sustainable economy.

The initiative is also intended to enhance private sector competitiveness, attract investment into priority industries, and strengthen Umm Al Qaiwain’s position as an emerging hub for business and high-value projects.

Ahmed Mohamed Al Naqbi said the bank remains committed to supporting companies in vital sectors by offering specialised financing solutions that enable expansion and long-term sustainability. He noted that the partnership reflects a shared vision to empower businesses and enhance the UAE’s overall economic development.

Similarly, Ahmed Obaid highlighted that the collaboration demonstrates the strength of the strategic partnership with EDB and its role in enabling business growth and sustainability.

He added that the Chamber will continue to support its members by facilitating access to financing opportunities, thereby fostering a more competitive and growth-oriented business environment in Umm Al Qaiwain.