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Emirates Development Bank (EDB), Abu Dhabi Investment Office (ADIO) sign MoU to boost SMEs, startups, and large firms

Chapter Twenty-Seven: EDB, ADIO sign MoU to boost SMEs, startups, and large firms

The Abu Dhabi Investment Office (ADIO) is the government entity responsible for attracting and facilitating investment in the Emirate of Abu Dhabi. ADIO enables opportunities for innovative investors and businesses of all sizes, facilitating connections across Abu Dhabi’s innovation ecosystem to help them establish and grow in the emirate. With a comprehensive range of tailored services and incentives, ADIO helps businesses achieve long-term, sustainable success in the market and across the region.

Emirates Development Bank [EDB], headquartered in Abu Dhabi, unveiled its new strategy in 2021 reinforcing its identity as one of the key drivers of the UAE’s economic recovery

As part of Abu Dhabi’s commitment to support the growth of the private sector, these two major business enablers are collaborating to help companies establish and scale up operations in the emirate. The partnership between ADIO and EDB will catalyze long-term opportunities in Abu Dhabi and take support for investors to the next level

The MoU between EDB and ADIO aims to help private sector companies establish and grow in the Emirate of Abu Dhabi, while playing a key role in the overall economic growth of the Emirate.

EDB and ADIO will explore areas of collaboration to effectively support investments into Abu Dhabi from SMEs, startups, and large enterprises; facilitate ease of doing business in Abu Dhabi; provide supply chain financing to Abu Dhabi-based companies; and assist with the scale-up of operations of Abu Dhabi-based companies.

The CEO of Emirates Development Bank, Ahmed Mohamed Al Naqbi said that EDB is pleased to be collaborating with ADIO to enable growth and economic diversification in Abu Dhabi and the UAE, which is in line with their future focused strategy. He added that as a Bank, they believe these efforts will create new opportunities, boost collaboration, expand the value chains for UAE-based entities, and contribute to the country’s economic growth and productivity surge. He continued that EDB can act as a catalyst for attracting foreign direct investments into Abu Dhabi through this collaboration with ADIO and other ecosystem partners.”

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