- EDB has launched a $136 million financing program to support entrepreneurs and startups.
- The program offers flexible financing solutions, co-lending schemes, and non-financial support through acceleration and enablement programs.
- This initiative aims to position the UAE as a global hub for entrepreneurship and help 30 startups scale into unicorns.
The Emirates Development Bank (EDB) has announced the launch of a new $136 million financing program aimed at supporting startups and SMEs across all Emirates, as part of a nationwide campaign to strengthen the entrepreneurship ecosystem and empower innovators.
This initiative is part of the campaign “The Emirates: Startup Capital of the World”, which seeks to accelerate the country’s economic diversification and innovation efforts by providing flexible financing tools and non-financial support solutions that help entrepreneurs turn their ideas into scalable, sustainable businesses.
The new program includes credit guarantee financing, co-lending schemes in collaboration with local banks, and receivables-based financing in partnership with fintech companies. It also features advisory programs and empowerment initiatives targeting more than 500 entrepreneurs, through national programs such as AgriX, MIITE, and MBRIF.
Through its EDB 360 digital platform, the bank also enables entrepreneurs to open business accounts within minutes and access financing without traditional guarantees, while connecting them with ecosystem partners to enhance capacity building and accelerate the growth of their ventures.
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