Agreement to boost financing for large-scale green infrastructure projects in the UAE
Emirates NBD has partnered with Siemens, a global technology leader, to announce an innovative finance and resourcing agreement aimed at accelerating the funding of future green infrastructure projects in the UAE.
The landmark agreement is the culmination of an extensive and strategic collaboration that synergizes technology, sustainability, and finance, and is fully aligned with the UAE’s Net Zero by 2050 Strategic Initiative.
A key objective of this initiative is to enhance and integrate energy efficiency projects, prioritizing sustainability through the adoption of cutting-edge technologies.
As the UAE’s leading financial institution, Emirates NBD was approached by Siemens to develop and design the administrative, technical and structural aspects of the agreement. This collaboration resulted in the creation of a unique credit framework, complemented by an innovative suite of financing tools, according to a press release.
Green buildings
Siemens, a recognized global leader in energy efficiency technologies, has successfully modernized more than 5,200 buildings worldwide through its advanced green building systems, achieving more than EUR 1bn in savings and reducing CO2 emissions by over 10mn tons.
“Emirates NBD’s role in developing this expansive agreement with Siemens highlights our commitment to helping the UAE reach its sustainability and decarbonization ambitions,” observed Ahmed Al Qassim, Group Head of Wholesale Banking, Emirates NBD.
“Collaboration is at the heart of transformation and by working together with governments, industries, and financial institutions, we can scale the solutions needed to drive meaningful change,” concluded Helmut von Struve, CEO, Siemens, UAE.
