Emirates Development Bank
Emirati government-owned bank
From Wikipedia, the free encyclopedia
The Emirates Development Bank (EDB) is an Emerati state-owned financial institution established in 2015 in the United Arab Emirates under the patronage of Sheikh Mansour bin Zayed Al Nahyan, Deputy PM and Minister of Presidential Affairs of UAE.[1][2][3]
- Sheikh Mansour bin Zayed Al Nahyan
| Type | Government State Owned Bank |
|---|---|
| Bank | |
| Founded | 2015; Abu Dhabi. |
| Founders |
|
| Headquarters | Abu Dhabi , UAE |
| Website | edb |
The bank supports the country's economic development and industrial development by providing financial assistance and resources to large corporates, SMEs (small and medium-sized enterprises), and startups in the UAE.[4][5][6]
History
Activities
The primary service of the Emirates Development Bank is to provide financing services to start-ups, SMEs and large corporates in the UAE that operate within the manufacturing, healthcare, food security, advanced technology and renewables sectors.[18][19]
UAE’s industrial strategy
The UAE's Ministry of Industry and Advanced Technology launched its industrial strategy in 2021. The 10-year comprehensive roadmap focuses on increasing the industrial sector's contribution to the country's gross domestic product from Dh133 billion in 2021 to Dh300bn in 2031.[20]
