UAE Ministry of Industry and Advanced Technology secures $4.9 billion financing package to accelerate industrial growth

The Ministry of Industry and Advanced Technology (MoIAT) of the United Arab Emirates has secured $4.9 billion in financing agreements with leading national banks to accelerate industrial growth. 

This initiative forms part of the UAE’s broader efforts to expand manufacturing capacity and strengthen supply chains, aligning with the country’s economic diversification agenda.

Hasan Jasem Al Nowais, Undersecretary of MoIAT, said, “These partnerships reflect our approach to translating industrial strategy into action at scale and speed, strengthening collaboration with leading national financial institutions to support sustainable industrial growth and enhance supply chain resilience.”

“They mark an important step in enabling companies to grow, adopt advanced technologies, and contribute to the National Strategy for Industry and Advanced Technology, with financial institutions playing a vital role in aligning funding solutions with industrial priorities.”

Financing tools and support from Mashreq

As part of the initiative, Mashreq Bank will offer a range of financing tools tailored to industrial firms’ needs. These include green loans, sustainability-linked financing, supply chain finance, and advisory services designed to facilitate expansion into global markets. The bank’s involvement shows the importance of sustainable finance in supporting the UAE’s industrial ambitions.

The agreements are structured in a way that they provide flexible and competitive funding solutions for manufacturers of all sizes. 

The aim is to drive growth and investment in the industrial sector to create a strong ecosystem that meets changing market needs.

The financing package was announced during the fifth edition of Make it in the Emirates, a flagship event promoting industrial development. 

The funds will support manufacturers in i) scaling their operations ii) adopting advanced technologies iii) enhancing competitiveness across the sector.

Contributions from key financial institutions

Ahmed Mohamed Al Naqbi, Chief Executive of Emirates Development Bank, said, “The $1.63 billion financing underscores our commitment to strengthening the UAE’s industrial sector by offering accessible and competitive funding that supports growth, enhances competitiveness, and enables expansion into new markets.”

Saud Al Jassim, Chief of Commercial Banking at Dubai Islamic Bank, added, “The agreement highlights the role of public-private collaboration in advancing industrial development. “

“Dubai Islamic Bank will provide Sharia-compliant financing solutions to improve operational efficiency and competitiveness.”

Ahmed Abdelaal, Group Chief Executive of Mashreq, also quoted, “Mashreq will support the UAE’s target of raising the industrial sector’s contribution to GDP to AED 300 billion ($81.7 billion) by 2031. We will continue to back industrial companies with capital, advisory capabilities, and global reach.”

MoIAT highlighted the importance of partnerships with national financial institutions in promoting industrial growth, localisation, and building a diverse, knowledge-based economy. 

The financing package will improve supply chains and support the UAE’s economic transformation goals.