Emirates Development Bank commits AED 1.3 billion finance under IRENA’s Energy Transition Accelerator Financing Platform

Dr. Sulan Al Jaber:

• The EDB-IRENA collaboration will provide adequate financing to support climate change mitigation.
• The UAE has invested more than AED 183.5 billion in renewable energy projects in over 70 countries.

Abu Dhabi, United Arab Emirates, 27 November 2023: Emirates Development Bank (“EDB” or “the Bank”), the key financial engine of UAE economic development and industrial advancement, has committed up to AED 1.3 billion (USD 350 million) to support the Energy Transition Accelerator Financing (ETAF) platform, a global climate finance facility established by the International Renewable Energy Agency (IRENA) to accelerate the financing of renewable energy projects and drive funding of renewable energy projects in developing countries.

Emirates Development Bank Unveils Bespoke Solar Energy Financing Program

New Program Features Favorable Financing Terms: Up to 8 Years Tenor Loans and 100% Loan-to-Value Ratio

Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank

Abu Dhabi, United Arab Emirates, 7 September 2023: Emirates Development Bank (“EDB” or “the Bank”), the key financial engine of UAE economic development and industrial advancement, has unveiled a new first of its kind Solar Energy Finance Program aimed at supporting micro, small, and medium enterprises (mSMEs) across diverse sectors within the UAE. The program will allocate AED100 million to bolster the adoption of green energy solutions, focusing on solar energy initiatives.