Emirates Development Bank and Abu Dhabi Islamic Bank Announce Strategic Partnership to Boost SME Financing in the UAE
Emirates Development Bank (EDB) and Abu Dhabi Islamic Bank (ADIB) have formed a strategic partnership to enhance financing solutions for small and medium enterprises (SMEs) in the UAE. Through EDB’s Guarantee Scheme, ADIB will provide SMEs with greater access to financing, with EDB guaranteeing up to 50% of the loans. The initiative aims to support projects in key sectors such as manufacturing, food security, advanced technology, healthcare, and renewables.
His Excellency Ahmed Mohamed Al Naqbi, CEO of EDB, highlighted the significance of the collaboration, stating: "Our partnership with ADIB strengthens our mission to support SME growth and financial inclusion, amplifying the impact of our finance guarantee scheme."
ADIB's Acting Group CEO, Mohamed Abdelbary, emphasized that this partnership reinforces ADIB’s commitment to empowering UAE businesses. "With this collaboration, we are expanding our Sharia-compliant financial solutions to help SMEs scale, innovate, and contribute to the UAE's long-term economic vision," he added.
The EDB Guarantee Scheme, which has already provided AED1.58 billion in financing and created 4,000 jobs, is designed to de-risk SME lending and enable commercial banks to extend financing. The scheme aligns with the UAE’s economic and sustainable development goals, with EDB aiming to provide AED30 billion in financing support by 2026.
