Dubai: Emirates NBD has partnered with Siemens to announce an innovative finance and resourcing agreement aimed at accelerating the funding of future green infrastructure projects in the UAE. The agreement is the culmination of an extensive and strategic collaboration that synergises technology, sustainability, and finance, and is fully aligned with the UAE’s Net Zero by 2050 Strategic Initiative.
According to Emirates News Agency, 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. These resources will support green infrastructure projects from installation through their entire lifecycle, including decarbonisation efforts.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, stated that Emirates NBD’s role in developing this expansive agreement with Siemens highlights their commitment to helping the UAE reach its sustainability and decarbonisation ambitions. He emphasized the goal of expanding important working relationships with multinational conglomerates that share their ESG vision and are eager to establish new opportunities for growth within the fields of energy efficiency and sustainable technologies.
Helmut von Struve, CEO of Siemens in the UAE, remarked that decarbonising infrastructure is a critical part of achieving the energy transition. He noted that the technologies required to accelerate energy efficiency progress are available today, but implementation needs to speed up to reach global goals.