Emirates Development Bank (EDB) has announced the signing of a credit facility agreement with Valiant Healthcare, the owner of Valiant Clinic & Hospital, a UAE-based boutique multi-specialty clinic and hospital located in CityWalk Dubai.
The agreement will extend financing to for both capital investment and operational expenditures, allowing it to fulfil its expansions plans and while accessing essential working capital.
The signing ceremony was attended by Ahmed Mohamed Al Naqbi, CEO of EDB, Faisal Juma Belhoul, Chairman of Valiant, and Ahmed bin Juma Belhoul, CEO of Valiant Healthcare LLC, alongside other senior officials from both entities.
Healthcare is one of the priority sectors that EDB targets with its range of flexible financial and non-financial solutions, owing to its development and deployment of advanced technology, its contribution to non-oil GDP and its importance to social and economic development. EDB’s patient debt approach, in which financing is available with long tenors, extended grace periods and competitive rates, is available to customers and projects in the UAE that support economic diversification, facilitate high-skill job creation, and deliver tangible economic impact.
Ahmed Mohamed Al Naqbi, CEO of EDB, said,
"Healthcare is one of the most important sectors in the UAE – both in terms of its growth potential and its centrality to the wellbeing of our society. To meet the increasing demand for high-quality clinical and diagnostic services, healthcare spending is expected to grow at a CAGR of 6.9 percent, reaching AED107 billion by 2029.
"Our agreement with Valiant Healthcare demonstrates our commitment to enhancing the national healthcare ecosystem by expanding the provision of high-quality healthcare in the UAE. Crucially, and central to EDB’s broader mission, it will also have an important developmental impact. This deal underlines EDB’s role as a strong, trusted, and reliable partner for local and international businesses in priority sectors that are looking to expand or setup their business in the UAE."
Ahmed bin Juma Belhoul, CEO of Valiant Healthcare LLC, said,
"With EDB’s support, we will move forward with our comprehensive buisness plan. We will introduce our patients to additional highly valued premium inpatient rooms, in addition to a state of the art Cath-lab & EP lab, lead by UK, American and European board certified Physicans, adding value to the entire UAE healthcare industry & in line with Dubai’s vision of being a medial tourism hub."
News Source: Emirates News Agency