Emirates Development finances a company to produce aseptic packaging materials

– direct: Emirates Development Bank signed a financing agreement with a company ipack A subsidiary of Emirates Business Group, which is the first production company of aseptic packaging materials in the UAE.

According to the Emirates News Agency (WAM), the Emirates Development Bank is financing a factory project ipack To support one of the most important projects of the industrial sector that depends on modern technology in this field.

Faisal Al Bastaki, Chief Executive Officer of the Emirates Development Bank said: “The industry sector represents the largest sector that supports the national economy, so it tops our list of priorities in the bank as we are keen to provide the necessary financial and credit facilities and keep pace with the developments of the industrial age to enhance the local added value and increase the presence of local products in the markets in line With the governmental vision to enhance competitiveness and diversify the economy. “

“We are committed to supporting Emirati entrepreneurs and encouraging them to join the business sector and providing opportunities to establish and own small and medium-sized companies,” said Shaker Farid Abdul Rahman Zainal, Director of Business Finance Department at the Emirates Development Bank and Director of the Mohammed Bin Rashid Innovation Fund.

Last Sunday, the Board of Directors of the Emirates Development Bank held its first meeting after its restructuring It is chaired by Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of the Bank’s Board of Directors.

During the meeting, Ahmed bin Abdullah Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, was selected as Vice Chairman of the Council.

The meeting discussed updating the bank’s strategy with the aim of enhancing its contribution as an enabler to achieving strategic priorities in the areas of the industrial sector and small and medium-sized companies that play a major role as essential tributaries for growth and diversification of the economy, and in a way that contributes to consolidating the country’s leadership position in global competitiveness, innovation and entrepreneurship indicators..


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