Emirates Development Bank (EDB), the key financial engine of the UAE’s economic diversification and industrial transformation agenda, has signed a credit facility agreement
EDB, FAB partner on co-lending programme for SMEs in the UAE gulftoday.ae - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulftoday.ae Daily Mail and Mail on Sunday newspapers.
EDB, CBD to offer credit guarantee, co-lending programme for SMEs
3 hours ago Officials of Emirates Development Bank and Commercial Bank of Dubai during the signing ceremony. The Emirates Development Bank (EDB), fully owned by the UAE Federal Government and a key financial enabler of the country’s economic diversification and industrial transformation agenda, has signed a Memoradum of Understanding (MoU) with Commercial Bank of Dubai (CBD) to offer Credit Guarantee and Co-lending programmes for SMEs in the UAE.
The MoU is part of EDB’s commitment to support the goals of the National Agenda under the UAE Vision 2021, focused on boosting the SME ecosystem in the UAE as well as enhancing the contribution of SMEs to the country’s GDP. The partnership will focus on providing strategic financing solutions to SMEs – one of the economic pillars of the UAE.