Wed 25-05-2022 18:05 PM
ABU DHABI, 25th May, 2022 (WAM) — Emirates Development Bank (EDB), the key financial enabler of the UAE’s economic diversification and industrial transformation agenda, has addressed its role in financing UAE’s key infrastructure projects through presenting a range of commercial financing solutions to help develop major national infrastructure projects in the UAE.
This came during its participation in the 16th edition of the Middle East Rail at Abu Dhabi National Exhibition Centre, and focused on innovation, technology and investment in the region’s railway sector.
Ahmed Mohamed Al Naqbi, Chief Executive Officer of EDB, highlighted how EDB, under the new strategy launched in April 2021, is focused on delivering flexible financial solutions for infrastructure and capital expansion projects that can have a similarly lasting impact on the UAE, which will be key to accelerating the nation’s economic diversification and industrial transformation agenda.
“EDB offers patient debt approach with an emphasis on developmental impact. Our direct and indirect financing is offered with long tenors, higher loan-to-value ratios, lower rates and with interest grace periods,” he said. “EDB offers agile and accessible financing to corporations in key sectors, which facilitates the completion of large-scale projects such as transport networks.”
EDB’s proprietary Developmental Impact Scorecard is a core component of how a company’s or project’s eligibility for finance is assessed. Alongside normal lending criteria, EDB uses to scorecard to assess qualitative and quantitative economic impact such as GDP growth and job creation as well as in-country value, advanced technology adoption and greenfield or brownfield development.
WAM/Lina ibrahim/MOHD AAMIR