The Emirates Development Bank (EDB) is playing a transformative role in the UAE’s economic story, injecting an equivalent of $5.45 million per day into businesses across the country. This remarkable pace of financing underscores just how seriously the UAE is taking its industrial and economic diversification agenda.
EDB is a state-owned financial institution that supports the country’s economic and industrial development by providing financial assistance to large corporates, SMEs, and startups operating in manufacturing, healthcare, food security, advanced technology, and renewables.
The results are compelling. EDB closed 2024 with a net profit of AED 307 million, welcoming over 664 new customers and recording a 218% year-on-year increase in industrial financing. The bank also reached a record AED 10.4 billion in cumulative financing since 2021 and has contributed AED 5.5 billion to industrial GDP.
For SMEs — the backbone of the UAE economy — EDB’s support has been game-changing. SMEs represent 94% of all companies and institutions operating in the country and contribute more than 50% to GDP. EDB’s targeted financing ensures these businesses have access to long-term, flexible capital that traditional lenders don’t always offer.
Under its five-year strategy, EDB set aside AED 30 billion to support priority sectors, aiming to finance more than 13,500 SMEs and create 25,000 jobs.
Whether you are a startup seeking seed capital or an established manufacturer looking to scale, EDB’s expanding ecosystem of financial and non-financial support makes it one of the UAE’s most powerful engines of business growth. With billions flowing daily, the message is unmistakable: the UAE is investing in its future.
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