15.7 billion dirhams, «Emirates Development» since 2021

The Emirates Development Bank announced its annual results for the year 2024, which showed its great economic contributions and its pivotal role in promoting flexibility and stimulating economic diversification in the country.

The results showed that the total volume of funds presented by the bank, since the launch of its new strategy in 2021, reached 15.7 billion dirhams, which raised its contributions to the state’s GDP to 7.4 billion dirhams at the end of 2024.

The bank’s economic impact is more evident through the significant increase in financing indicators of capital expenses and foreign direct investment, as the bank mobilized the value of capital investment financing amounting to 50.2 billion dirhams, in addition to its support to establish new projects worth 15 billion dirhams, and foreign investment was attracted to value Seven billion dirhams, since April 2021.

The bank contributed through the funds it provided in providing 28 thousand job opportunities in the industrial sector in the UAE, which reflects its firm commitment to supporting job creation and enhancing the benefit from promising economic opportunities.

The Minister of Industry and Advanced Technology, Chairman of the Board of Directors of the Emirates Development Bank, Dr. Sultan Ahmed Al -Jaber said: “In line with the vision of the wise leadership, the bank continues to focus on supporting the growth of the industrial sector and sustainable economic development and enhancing the investment attractiveness of the UAE, and confirm the distinguished results achieved by the bank in a year 2024 Sustainable growth since the launch of its new strategy in 2021, and confirms the achievement of 15.7 billion dirhams as financing Total, with allocating large sums for manufacturing, advanced technology and renewable energy, the bank’s firm commitment to its strategic priorities and contribute to stimulating growth and enhancing economic diversification in line with national development plans, as it is a practical embodiment of the directives of good leadership that focuses its long -term future vision to ensure the achievement of sustainable economic growth ».

He added: «We are committed to employing advanced technology to create distinct financial solutions and launch qualitative initiatives that support the achievement of the strategic priorities of the bank, and these results are clear evidence of the bank’s ability to fulfill its obligations, support the growth of priority sectors, enhance the competitiveness of the industrial sector, ensure the elasticity of the national economy, and consolidate The global economic status of the UAE.