The UAE Development Bank has signed a strategic Memorandum of Understanding (MoU) with the Abu Dhabi Export Office, a subsidiary of the Abu Dhabi Development Fund. The agreement establishes a unified framework to provide financing solutions worth up to AED 1 billion to support industrial companies in the UAE. The first drawdown under this framework, valued at AED 367 million, has been successfully completed, marking a significant milestone in the program's implementation. The agreement was signed by Ahmed Mohammed Al-Naqbi, CEO of the UAE Development Bank, and Khalil Al-Mansoori, CEO of the Abu Dhabi Export Office, in the presence of high-level delegations from both institutions. This agreement enables manufacturers in the country, including Small and Medium-sized Enterprises (SMEs), to access financing.
