MoIAT unlocks AED 18 billion in industrial financing at Make it in the Emirates 2026

• AED 10 billion from Mashreq Bank, AED 6 billion from Emirates Development Bank, and AED 2 billion from Dubai Islamic Bank to help manufacturers of all sizes scale, adopt tech, and export
• HE Hasan Jasem Al Nowais - 'Partnerships reflect UAE's approach to translating industrial strategy into action at scale and speed'

Abu Dhabi-UAE. 5 May 2026: The Ministry of Industry and Advanced Technology (MoIAT) today unlocked AED 18 billion in competitive financing for the industrial sector to help manufacturers scale their production.

The ministry signed Memoranda of Understanding (MoUs) with Mashreq Bank and Dubai Islamic Bank to provide AED 10 billion over five years and AED 2 billion, respectively, while Emirates Development Bank separately allocated AED 6 billion, bringing the total to AED 18 billion as part of its ongoing partnership with MoIAT.

Signed at the fifth and largest edition of Make it in the Emirates (MIITE), the UAE's flagship industrial platform, the agreements will provide access to competitive and flexible financing solutions to help companies of all sizes increase production and adopt advanced technologies while stimulating investment and strengthening supply chains.

The agreements were signed on behalf of MoIAT by His Excellency Eng. Osama Amir Fadhel, Assistant Undersecretary for the Industrial Accelerators Sector, Saud Al Jassim, Head of Business Banking at Dubai Islamic Bank, and Joel D Van Dusen as its new Head of Corporate and Investment Banking Group, in the presence of Hasan Jasem Al Nowais, Undersecretary of MoIAT, alongside senior officials and representatives from the banking and industrial sectors.

His Excellency Hasan Jasem Al Nowais, Undersecretary of MoIAT, said: 'These partnerships reflect our approach to translating industrial strategy into action at scale and speed — strengthening ties with leading national financial institutions to support sustainable industrial growth and enhance supply chain resilience.

'The partnerships mark an important step forward in strengthening companies' ability to grow, adopt advanced technologies, and contribute to the objectives of the National Strategy for Industry and Advanced Technology. National financial institutions play a vital role in enabling the industrial sector, particularly through credit guarantees, and aligning their financial products with industrial and trade policies.'

Mashreq Bank will provide green loans, green bonds, sustainability-linked loans and bonds, supply chain financing programs, as well as trade finance services and financial advisory support. These offerings aim to support the growth of national industrial exports through the bank's international network. The agreement also includes financial awareness and advisory services to help industrial enterprises boost their readiness for global markets.

Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, said: 'The AED 6 billion competitive financing underscores EDB's commitment to strengthening the UAE's industrial sector by providing businesses with accessible and competitive funding solutions. This initiative will support manufacturers in scaling their operations, enhancing competitiveness, and expanding into new markets, in line with the UAE's economic diversification and efforts to reinforce its position as a global hub for advanced industry.'

Saud Al Jassim, Head of Business Banking at Dubai Islamic Bank, said: 'This agreement reflects the importance of partnerships between the government and banking sectors in enabling the UAE's industrial sector. Through our collaboration with MoIAT under Make it in the Emirates 2026, Dubai Islamic Bank reaffirms its commitment to supporting national objectives and industrial enterprises with Sharia-compliant banking solutions that help strengthen their ability to grow, improve operational efficiency, and adopt advanced technologies, supporting the competitiveness of the industrial sector and enhancing its contribution to the national economy.'

Ahmed Abdelaal, Group CEO, Mashreq, said: 'The UAE's ambition to lift the industrial sector's GDP contribution to AED 300 billion by 2031 is one of the most defining economic transformations of this decade and Mashreq is fully committed to supporting this goal. Through this MoU, we will deploy AED 10 billion of competitive financing over five years, spanning term financing, supply chain finance and trade solutions delivered through our international network to give UAE industrialists the capital, the advisory, and the global reach they need to scale.

'Building on the commitments we have consistently exceeded under previous agreements with the ministry, our dedicated manufacturing division stands ready to be the partner of choice for every company building under Make it in the Emirates. As one of the UAE's oldest banks, Mashreq has been financing the country's industrial backbone for over five decades, and this commitment with MoIAT marks our most ambitious chapter yet.'

Partnerships with national financial institutions are a cornerstone of industrial growth, competitiveness, and localization. They are critical to building a diversified, knowledge-based economy driven by innovation and advanced industry.