Ministry Of Industry And Advanced Technology, Emirates Development Bank Partner To Advance Sustainable Growth

DUBAI, (UrduPoint / Pakistan Point News / WAM - 06th Apr, 2021) The Ministry of Industry and Advanced Technology has signed a Memorandum of Understanding (MoU) with the Emirates Development Bank to advance sustainable growth.

The MoU aims at promoting sustainable growth in sectors vital to the national economy via offering financial solutions and banking services on terms that ensure sustainable growth for all stakeholders, in addition to contributing to advancing development in industry and advanced technology sector.

Under this partnership, a financial portfolio of AED30 billion will be allocated to finance priority industrial sectors to support and finance 13,500 large, small and medium companies and establishments.

The signing of this MoU came after the launch of the National Strategy for Industry and Advanced Technology, "Operation 300bn" and the Emirates Development Bank strategy aimed at achieving integration and synergy between the Ministry and the Bank to support and implement cooperation initiatives in areas of common interest.