Emirates Development Bank (EDB) to Support UAQ Free Trade Zone's SME Investors
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Facilitates Corporate Banking through EDB for investors and accelerate growth for high-growth potential SMEs and startups through direct and indirect banking. The Free Zone will assist their clients in availing the Emirates Development Banks' diverse financial solutions, including account opening services, loans, credit facilities, and other banking options. The collaboration between UAQ FTZ and EDB is centered on a shared vision for the sustainable growth and development of the UAE's SME investors. ' Through this MoU, we are aiming to explore and enable mutual opportunities to cooperate with one another and further support SMEs and start-ups operating within the area of the UAQ Free Trade Zone. We are looking forward to contributing to the sustainable economic development and increasing competitiveness in our efforts to support the economic agenda of the UAE.' EDB achieves this goal through direct and indirect financing to start-ups, small and medium enterprises and large corporates, sponsoring industrial projects across five priority sectors; manufacturing, infrastructure, advanced technology, food security and health care. The bank has set a target to deploy AED30 billion of support to 13,500 companies within the five priority sectors by 2026.