Emirates Development Bank Reinforces Commitment to Supporting UAE’s Food Production at Gulfood Manufacturing 2024

Dubai, 10 November 2024: Emirates Development Bank (‘EDB’ or ‘the Bank’), the key financial engine of UAE economic development and industrial advancement, has successfully concluded its participation at the 10^th Edition of Gulfood Manufacturing 2024, showcasing its strategic focus on driving national food security as well as its commitment to empowering local food manufacturers.

EDB highlighted its innovative financing solutions tailored for SMEs and large corporations in the food manufacturing sector, reinforcing its alignment with the UAE's National Food Security Strategy 2051 and sustainable development priorities.

H.E. Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, said: “Gulfood Manufacturing is a vital platform to power the F&B manufacturing industry through advanced technology solutions, showcasing the UAE's commitment to building a resilient, innovative, and future-proof food ecosystem. At EDB, we recognize the critical role of the food manufacturing sector in achieving national food security and economic diversification. Therefore, we are committed to empowering businesses across the food value chain, from farm to factory, by providing access to tailored financing solutions that encourage the adoption of advanced technologies, sustainable practices, and increased local production.”

EDB offers a range of tailored financing solutions, including its dedicated AgriTech Loans Program, providing favorable terms and extended tenors to support investments in advanced technologies, sustainable practices, and capacity expansion. These solutions aim to enhance local production, reduce reliance on imports, and create a resilient and sustainable food system.

During the three-day Gulfood Manufacturing event, EDB’s booth attracted a huge number of attendees who came to explore the Bank’s financing solutions and opportunities to collaborate in advancing the UAE's food security agenda. EDB showcased its specialized financing products designed to unlock the growth of SMEs and large corporations operating within the food manufacturing space. It also highlighted its commitment to consolidating the UAE’s position as a global food manufacturing hub and contributing to the overall regional efforts toward food self-sufficiency.

As part of its five-year strategy, EDB has allocated AED 30 billion to support 13,500 SMEs across five priority sectors, including food security, renewables, manufacturing, advanced technology, and healthcare. This commitment reflects the Bank's dedication to driving industrial growth and economic diversification in line with national priorities.