By Jessico Combes / CPI Financial - Image Credit: CPI Financial
SOURCE: CPI Financial - Emirates Development Bank launches SMEs financing to support Emirati entrepreneurs
Approximately AED1 billion has been allocated to finance national businesses for 2018-2019, according to HE Obaid Humaid Al Tayer, Minister of State for Finance and Chairman of the Board of Directors of Emirates Development Bank.
Al Tayer said, “Small and medium-sized enterprises (SMEs) are two of the most important cornerstones of the UAE’s national economy, as they play a vital role in its progress and prosperity. This highlights the role of Emirates Development Bank, as it offers banking solutions and financial services that are tailored for the growth and development of small and medium-sized enterprises.”
HE Obaid Humaid Al Tayer added that Emirates Development Bank provides UAE Nationals with a comprehensive set of innovative products that are designed to support national businesses and Emirati entrepreneurs, including sales and receivable financing, business expansion loan and project financing, asset backed financing and purchase financing.