First Abu Dhabi Bank (FAB) has signed an MoU with Emirates Development Bank (EDB), which will enable FAB to provide upto AED 100 million financing solutions to SMEs and start-ups across the United Arab Emirates. Out of this AED 100 million, 50% of the amount will be either co-lent or guaranteed by EDB. The partnership between these two banks will strive to bridge the funding gap for SMEs and strengthen the efforts of the UAE government towards building a robust knowledge-based economy while promoting and nurturing a thriving SME and start-up eco-system.
