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 financing solutions at the Arab Health exhibition 2024, the globally renowned healthcare expo held in Dubai from 29th January until 1st February.
EDB has approved a total of AED326 million in loans for the healthcare sector since the launch of the Bank’s strategy in 2021. Healthcare is one of the priority sectors that EDB targets with its range of flexible financial and non-financial solutions due to its development and deployment of advanced technology, its contribution to non-oil GDP and its importance to social and economic development.
Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, commented on the significance 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 wellbeing of our society, with AED5.2 billion of the UAE’s total approved Federal General Budget 2024 allocated to healthcare 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 nation’s socio-economic growth. We believe that a robust healthcare sector is fundamental in the UAE’s shift towards knowledge-based economic development.”
Al Naqbi added,
“At EDB, we are partners in the nation’s journey towards a sustainable and diversified economy. Our financing strategy reflects our proactive approach in supporting sectors that are pivotal for the UAE’s future, with healthcare being at the forefront.”
Arab Health, the largest gathering of healthcare and trade professionals in the MENA region, aligns with EDB’s strategic focus on healthcare as a key financing 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 patient-debt approach, providing financial solutions that ensure the long-term success and sustainability of healthcare projects.
During the four-day event, EDB booth witnessed a significant turnout of visitors keen to discuss the Bank’s range of tailored financing solutions for the UAE healthcare sector. These solutions are designed to support healthcare entities in their quest to deliver cutting-edge medical services and technologies, ultimately enhancing the healthcare infrastructure in the UAE.
News Source: Emirates News Agency
