ADNOC becomes first partner to back UAE's new AED 1 billion National Industrial Resilience Fund

The Ministry of Industry and Advanced Technology (MoIAT), Emirates Development Bank (EDB), and ADNOC signed a trilateral Memorandum of Understanding at Make it in the Emirates 2026, making ADNOC the first partner to support the UAE Cabinet's newly announced AED 1 billion National Industrial Resilience Fund (NIRF).

The fund — managed by EDB over five years — is designed to strengthen supply chain resilience, accelerate the localization of priority industries, and link confirmed procurement demand with targeted financing for local manufacturers. It focuses on brownfield investments, helping existing facilities expand capacity and scale output.

His Excellency Hasan Jasem Al Nowais, Undersecretary of MoIAT, said: "The National Industrial Resilience Fund integrates the efforts of MoIAT, EDB, and priority sector partners — starting with ADNOC — to strengthen the industrial financing ecosystem, support local manufacturing growth, and accelerate the replacement of industrial imports with high-quality local alternatives."

His Excellency Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, said: "Through the NIRF, we are expanding accessible financing solutions for companies in key sectors that underpin national economic resilience. Our partnership with MoIAT enables us to provide targeted liquidity support to manufacturers, helping them improve working capital, strengthen supply chains, and achieve sustainable long-term growth."

Omar Abdullah Al Nuaimi, Acting Director of Commercial and ICV at ADNOC, said: "This partnership links ADNOC's long-term procurement needs with targeted financing for local manufacturers. We remain committed to expanding local manufacturing through our ICV Program, which has strengthened industrial resilience and created sustainable economic value since its launch in 2018."

Under the agreement, each partner plays a defined role. MoIAT will identify priority sectors and products, translate procurement opportunities into viable industrial projects, and nominate eligible projects for funding. EDB will evaluate projects against risk and feasibility criteria, provide financing through a fast-track approval process, and monitor performance. ADNOC will align its procurement chains with the fund's priorities, share demand data, support supplier localization, and stabilize demand through long-term contracts — while participating in joint governance to accelerate implementation.

The NIRF will support industrial value chains across six strategic sectors: food industries, manufacturing, primary metals, mechanical and electrical and chemical industries, pharmaceuticals and medical supplies, and advanced technology and construction.