The Ministry of Industry and Advanced Technology has secured $4.9 billion in financing agreements with leading national banks to accelerate industrial growth, as part of efforts to expand manufacturing capacity and strengthen supply chains.

Announced during the fifth edition of Make it in the Emirates, the package aims to support manufacturers in scaling operations, adopting advanced technologies, and enhancing competitiveness in line with the UAE’s economic diversification agenda.

As part of the initiative, Mashreq will offer financing tools, including green loans, sustainability-linked financing, supply chain finance, and advisory services, to help industrial firms expand into global markets.

Officials said the agreements are designed to provide flexible and competitive funding solutions for manufacturers of all sizes, supporting expansion and investment across the sector.

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

“They mark an important step in enabling companies to grow, adopt advanced technologies, and contribute to the National Strategy for Industry and Advanced Technology, with financial institutions playing a vital role in aligning funding solutions with industrial priorities.”

Ahmed Mohamed Al Naqbi, Chief Executive of Emirates Development Bank, said, “The $1.63 billion financing underscores our commitment to strengthening the UAE’s industrial sector by offering accessible and competitive funding that supports growth, enhances competitiveness, and enables expansion into new markets.”

Saud Al Jassim, Head of Business Banking at Dubai Islamic Bank, said the agreement highlights the role of public-private collaboration in advancing industrial development, noting that the bank will provide Sharia-compliant financing solutions to improve operational efficiency and competitiveness.

Ahmed Abdelaal, Group Chief Executive of Mashreq, said the bank will support the UAE’s target of raising the industrial sector’s contribution to GDP to AED 300 billion ($81.7 billion) by 2031. He added that Mashreq will continue to back industrial companies with capital, advisory capabilities, and global reach.

MoIAT said partnerships with national financial institutions remain central to driving industrial growth, localization, and the development of a diversified, knowledge-based economy. The financing package is expected to strengthen supply chains and support broader economic transformation goals.