Saturday, February 15, 2025
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Industrial Sector Finance Drives the UAE’s Economic Diversification

The UAE’s industrial sector has seen a large increase in financing, owing to strong support from both the government and private companies. This coordinated effort is critical in driving industrial growth and meeting the lofty aims established in the “Operation 300 Billion” strategy.

This strong financial backing is critical, as a well-funded industrial sector is essential for developing a diverse and resilient national economy that is characterised by sustainability, innovation, and long-term economic prosperity.

According to data from the Central Bank of the UAE (CBUAE), banks in the UAE injected Dhs5.537 billion in funding for the manufacturing sector during the first nine months of 2024, pushing total loans to the industry to a historic high of more than Dhs94.85 billion.

The sector’s financing portfolio expanded by almost 6.2 percent during these nine months, from Dhs89.315 billion at the end of 2023, with a growth rate of more than 37% over the last decade, compared to the end of 2015.

Leading institutions such as the Emirates Development Bank (EDB), the Khalifa Fund for Enterprise Development (KFED), and the Mohammed Bin Rashid Establishment for SME Development are important backers of industrial projects, particularly those associated with on innovation and technology.

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Saturday, February 15, 2025

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