EDB records AED 326 million in loan approvals since 2021, driving sector growth

Emirates Development Bank (EDB), the key financial engine for economic development and industrial advancement in the UAE, affirmed its commitment to advancing the healthcare sector through innovative financial solutions in the Arab Health Expo 2024the world-renowned healthcare exhibition held in Dubai since From January 29 to February 1.

EDB has approved a total of AED 326 million in loans for the health sector since the launch of the Bank’s strategy in 2021. Healthcare is one of the priority sectors that the EDB is targeting with its range of flexible financial and non-financial solutions due to their development and implementation. of advanced technology, its contribution to non-oil GDP and its importance for social and economic development.

Ahmed Mohamed Al Naqbi, CEO of the Emirates Development Bankcommented on the importance of the event,

“Healthcare is one of the UAE’s most critical priority sectors, both in terms of its potential and its centrality to the well-being of our society, with AED 5.2 billion of the UAE’s total approved federal general budget for 2024 allocated to health care and community protection.

“Our presence at Arab Health demonstrates our commitment to fostering an ecosystem where healthcare institutions can thrive, innovate and contribute to the socio-economic growth of the nation. “We believe that a strong healthcare sector is critical in the UAE’s shift towards knowledge-based economic development.”

Al Naqbi aggregate,

“At EDB, we are partners in the nation’s journey towards a sustainable and diversified economy. “Our funding strategy reflects our proactive approach in supporting sectors that are critical to the future of the UAE, with healthcare at the forefront.”

Arabic healththe largest gathering of healthcare and business professionals in the MENA region, aligns with EDB‘s strategic focus on healthcare as a key financial priority and offers the opportunity to engage with a wide range of stakeholders, from healthcare providers and manufacturers to technology innovators.

The event serves as a platform for EDB to understand emerging trends, explore new collaborations and showcase its approach to patient debt, providing financial solutions that ensure the success and long-term sustainability of healthcare projects.

During the four-day event, EDB The stand witnessed a significant influx of visitors eager to discuss the Bank’s range of customized financing solutions for the UAE healthcare sector. These solutions are designed to support healthcare entities in their quest to provide cutting-edge medical services and technologies and ultimately improve healthcare infrastructure in the UAE.

News source: Emirates News Agency