Emirates Development Bank, Valiant Healthcare sign credit facility deal
- 15 Jul 2022
Emirates Development Bank (EDB), the key financial engine of the UAE’s economic diversification and industrial transformation agenda, has signed a credit facility agreement with Valiant Healthcare, the owner of Valiant Clinic & Hospital, a UAE-based boutique multi-specialty clinic and hospital located in CityWalk Dubai.
The agreement will extend financing for both capital investment and operational expenditures, allowing it to fulfil its expansions plans and while accessing essential working capital.
The signing ceremony was attended by Ahmed Mohamed Al Naqbi, CEO of EDB, Faisal Juma Belhoul, Chairman of Valiant, and Ahmed bin Juma Belhoul, CEO of Valiant Healthcare, alongside other senior officials from both entities.
Healthcare is one of the priority sectors that EDB targets with its range of flexible financial and non-financial solutions, owing to its development and deployment of advanced technology, its contribution to non-oil GDP and its importance to social and economic development.
EDB’s patient debt approach, in which financing is available with long tenors, extended grace periods and competitive rates, is available to customers and projects in the UAE that support economic diversification, facilitate high-skill job creation, and deliver tangible economic impact.
Ahmed Mohamed Al Naqbi, CEO of EDB, said: “Healthcare is one of the most important sectors in the UAE – both in terms of its growth potential and its centrality to the wellbeing of our society.
To meet the increasing demand for high-quality clinical and diagnostic services, healthcare spending is expected to grow at a CAGR of 6.9 per cent, reaching Dhs107 billion by 2029.
“Our agreement with Valiant Healthcare demonstrates our commitment to enhancing the national healthcare ecosystem by expanding the provision of high-quality healthcare in the UAE.”
“Crucially, and central to EDB’s broader mission, it will also have an important developmental impact. This deal underlines EDB’s role as a strong, trusted, and reliable partner for local and international businesses in priority sectors that are looking to expand or setup their business in the UAE.”
Ahmed bin Juma Belhoul, CEO of Valiant Healthcare, said: “With EDB’s support, we will move forward with our comprehensive buisness plan.” “We will introduce our patients to additional highly valued premium inpatient rooms, in addition to a state of the art Cath-lab & EP lab, lead by UK, American and European board certified Physicans, adding value to the entire UAE healthcare industry & in line with Dubai’s vision of being a medial tourism hub.”
Valiant is a boutique multi-speciality Clinic and Hospital providing healthcare and wellbeing services, with a focus of being a destination for unmatched healthcare services, as well as a central hub for a full range of surgical specialties such as Orthopaedic Surgery, General Surgery, Vascular Surgery, Cardiac Surgery and ENT Suregery.
Valiant Clinic & Hospital is proud to be the first Hospital in Middle East to host the entire Brainlab Suite, with Robotic Arm Neuronavigation & 3D intraoperative Imaging, Valiant Clinic & Hospital is aim to continue offering world-class technology and service to our patients, with an focus on transforming the patient experience from a regular hospital visit to a hotel experience under the attention of our highly respected physicians and surgeons.
Emirates Development Bank (EDB), headquartered in Abu Dhabi, was established under Federal Law by Decree No. 07 of 2011 issued by His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE. It became operational in June 2015.
The Bank unveiled its new strategy in 2021 reinforcing its identity as one of the key drivers of the UAE’s economic recovery.
EDB offers financial and non-financial support to SMEs, startups and large corporates operating in strategic priority sectors in the UAE, as a step to boost their contribution to the country’s non-oil GDP.
The Bank also provides home finance support to the UAE Nationals. EDB operates two branches in Abu Dhabi and Dubai.
Emirates Development Bank (EDB) has been heralded by UAE industry leaders for its role as the key financial engine of the nation’s economic diversification and industrial transformation agenda during the “Make it in the Emirates” Forum, in Abu Dhabi last month. The event, organised by the Ministry of Industry and Advanced Technology (MoIAT) in collaboration with the Abu Dhabi Department of Economic Development (ADDED), was held under the theme of “Invest, Partner, Grow” and showcased the UAE’s industrial capabilities, its ambitions to nurture the industries of the future, and its unique value proposition as a manufacturing hub.