7:55 am - February 16, 2026
UAE: The Emirates Development Bank has launched the AED 1 billion Emirates Growth Fund to support SMEs with growth equity investments between AED 10-50 million, targeting sector diversification and contributing to the AED 300bn industrial GDP goal by 2031 through strategic partnerships and value creation.
The Emirates Development Bank (EDB) has made a significant stride in fostering economic growth with the recent launch of the Emirates Growth Fund (EGF), a substantial AED 1 billion growth equity platform aimed at bolstering the resilience and competitiveness of small and medium-sized enterprises (SMEs) within the UAE. This initiative, officially launched at the fourth edition of the Make it in the Emirates Forum, underscores a strategic commitment to enhancing the contribution of SMEs, which are pivotal to the country’s economy, constituting approximately 94% of all registered businesses.
The fund aims to provide patient capital and foster deep strategic partnerships for high-potential businesses across key priority sectors, including manufacturing, food security, healthcare, and advanced technology. The overarching objective of EGF aligns with the national Operation 300bn strategy, which aims to elevate the industrial sector’s contribution to the country’s GDP to AED 300 billion by 2031. This goal reflects a broader ambition to diversify the UAE’s economy away from oil dependency and to position the country as a leader in various industrial sectors.
Targeting SMEs with annual revenues typically starting at AED 10 million, the EGF plans to invest between AED 10 million and AED 50 million per company. This funding model seeks to address the so-called ‘missing middle’ in SME financing, focusing on firms that have outgrown initial funding rounds but require substantial investment to achieve further growth. By combining minority equity stakes with active value creation, the fund empowers founders to strengthen governance and develop sustainable growth strategies, ensuring that they retain operational control while leveraging strategic support.
The fund is chaired by Ahmad Belhoul Al Falasi, UAE Minister of Sports, who highlighted that the EGF is designed to bridge the gap between traditional private equity and venture capital. He emphasised its role in promoting scalable businesses that contribute to job creation and comprehensive economic value. “Our goal is to partner with scalable businesses that drive industrial capacity, particularly those that can create jobs,” he noted during the launch.
Furthermore, the EGF’s inaugural investment in the healthcare sector, through a partnership with Tarmeem Healthcare Holding, showcases its commitment to delivering measurable impacts and addressing the existing demands within crucial sectors. This initiative not only signifies the beginning of EGF’s portfolio but also marks a strategic move to enhance local supply chains and stimulate high-skilled job creation.
The establishment of the EGF is part of a broader strategy by the EDB, which has pledged to approve AED 30 billion in financing support for 13,500 businesses across various sectors by 2025. This commitment also includes the provision of non-financial support such as mentoring and advisory services, recognising that comprehensive solutions are necessary for the sustainable growth of SMEs.
Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and Chairman of EDB, reaffirmed the bank’s resolve to support the national economy through initiatives like the EGF, which are vital for enhancing industrial competitiveness and supply chain resilience. He articulated a vision of a future rooted in resilience and self-sufficiency, asserting, “The launch of the Emirates Growth Fund is a bold, future-focused step that provides UAE-based growth-stage companies… with the capital, expertise, and strategic support needed to scale and lead in the industrial sector.”
As EDB strives to bolster the UAE’s industrial base and propel it towards achieving its long-term economic goals, the launching of the EGF is poised to serve as a critical enabler, fostering innovative and resilient businesses that can navigate the challenges of today’s dynamic market environment.
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Source: Noah Wire Services
- https://www.lokmattimes.com/international/emirates-development-bank-launches-aed1-bn-emirates-growth-fund/ – Please view link – unable to able to access data
- https://www.lokmattimes.com/international/emirates-development-bank-launches-aed1-bn-emirates-growth-fund/ – Emirates Development Bank (EDB) has launched the Emirates Growth Fund (EGF), a transformative AED 1 billion growth equity platform aimed at accelerating the scale, resilience, and global competitiveness of UAE-based SMEs. Officially unveiled at the fourth edition of the Make it in the Emirates Forum, EGF provides patient capital and strategic partnerships to high-potential businesses across priority sectors: Manufacturing, Food Security, Healthcare, and Advanced Technology. The fund plays a pivotal role in driving the UAE’s industrial transformation and advancing the goals of Operation 300bn, the national strategy to raise the industrial sector’s GDP contribution to AED 300 billion by 2031. EGF targets UAE-based SMEs with strong growth potential and annual revenues typically starting from AED 10 million, investing between AED 10 million and AED 50 million per company. By combining minority equity stakes with active value creation, EGF empowers founders to scale sustainably, strengthen governance, and build national champions that will shape the UAE’s economic future. The Fund is chaired by Ahmad Belhoul Al Falasi, UAE Minister of Sports, with Najla Ahmed Al Midfa serving as Vice Chair and Managing Director. The EGF Board also includes Ms. Mariam Saeed Ghobash, Mr. Mohammed Huraimel Al Shamsi, Khalfan Juma Belhoul, Mr. Hassan AlSayegh, and Mr. Stephen Welton.
- https://www.wam.ae/en/details/1395302946545 – In June 2021, Ahmed Al Naqbi, CEO of Emirates Development Bank (EDB), announced plans to launch an AED 1 billion direct investment fund in 2022. This fund aims to support SMEs and industrial companies in priority sectors such as manufacturing, healthcare, infrastructure, food security, and technology. Al Naqbi emphasized the importance of SMEs, which constitute nearly 94% of businesses in the UAE, and the challenges they face in accessing finance, especially in the aftermath of the COVID-19 pandemic. The initiative is part of EDB’s broader strategy to provide AED 30 billion in financing to businesses and start-ups by 2025, supporting over 13,500 SMEs and creating 25,000 jobs. The strategy also includes offering a range of financial products and non-financial support, such as coaching, mentoring, and advisory services, to foster the growth of SMEs and corporates in the UAE.
- https://www.edb.gov.ae/posts/emirates-development-bank-approves-aed-61-billion-in-financing-during-fy-2022-representing-a-673-yoy-increase-with-ambitions-to-further-support-the-uaes-strategic-industries-in-2023 – Emirates Development Bank (EDB) approved AED 6.1 billion in financing during the fiscal year 2022, marking a 673% year-over-year increase. This financing included AED 1.8 billion to support UAE-based micro, small, and medium-sized enterprises (mSMEs) and AED 4.3 billion in loans to large corporates. EDB’s financing contributed AED 3.5 billion to the non-oil GDP and created over 12,000 industrial jobs. The bank’s efforts align with its mandate to approve AED 30 billion in financing support to 13,500 companies within five sectors—renewables, manufacturing, technology, healthcare, and food security—by 2026. EDB’s strategic focus on these sectors aims to bolster the UAE’s industrial growth and economic diversification.
- https://www.edb.ae/index.php/posts/emirates-development-bank-commits-aed-13-billion-finance-under-irenas-energy-transition-accelerator-financing-platform – In November 2023, Emirates Development Bank (EDB) 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). This collaboration aims to accelerate the financing of renewable energy projects and drive funding in developing countries. The agreement was signed during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023, highlighting EDB’s commitment to supporting the UAE’s position as a global hub for renewable energy technology and manufacturing. EDB’s support for ETAF underscores its dedication to sustainable development and the UAE’s climate goals.
- https://edb.ae/posts/emirates-development-bank-launches-aed-100-million-credit-guarantee-scheme-for-smes-in-coordination-with-partner-banks-and-the-uae-banks-federation – In February 2019, Emirates Development Bank (EDB) launched a new Credit Guarantee Scheme amounting to AED 100 million to support SMEs in the UAE. The scheme aims to boost SMEs’ business activities and contribute to economic diversification in line with the UAE’s move towards a post-oil economy. EDB provides credit guarantees to partner banks in the UAE, offering up to AED 2 million financing to startups with an 85% guarantee and up to AED 5 million financing to existing SMEs with a 70% guarantee. This initiative is part of EDB’s commitment to enhance SMEs’ access to capital and support the goals of the National Agenda under UAE Vision 2021, focusing on increasing SMEs’ GDP contribution to 70% by 2021.
- https://edb.gov.ae/posts/emirates-development-bank-reports-record-2024-results-with-222-yoy-financing-growth-boosting-uae-industrial-growth-and-economic-diversification – Emirates Development Bank (EDB) reported a 222% year-over-year financing growth in 2024, contributing to the UAE’s industrial growth and economic diversification. The bank’s financing for advanced technology reached AED 3 billion, underscoring its commitment to fostering the adoption of cutting-edge industrial innovations. Additionally, total financing to the food security sector amounted to AED 1.22 billion, while the healthcare sector received AED 1.14 billion, reflecting EDB’s focus on driving growth in critical industries. These results showcase EDB’s emphasis on sectors critical for the UAE’s sustainable future and reinforce the country’s position as a key enabler of global competitiveness.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The information appears to be recent, as it mentions contemporary initiatives and strategies without any indication of outdated content.
Quotes check
Score:
8
Notes:
The quotes from Ahmad Belhoul Al Falasi and Dr. Sultan Al Jaber are included, but without specific dates of the quotes. However, the context suggests these are recent statements.
Source reliability
Score:
6
Notes:
The narrative originates from Lokmatt Times, which is not as widely recognized as major news outlets like BBC or Reuters. However, it does provide specific details about the initiative.
Plausability check
Score:
9
Notes:
The claims align with the UAE’s economic goals and strategies, such as diversifying away from oil dependency and enhancing industrial competitiveness.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative is well-supported by plausible economic strategies and recent initiatives, although the source is not as widely recognized as major publications.
