Financial facilities for water, gas and electricity projects within 3 months

12-05-2019 Media in\ Abu Dhabi
Water, electricity and gas projects have been particularly important in the list of projects that UAE banks have been keen to provide financing for, which grew by 8.2% and AED 1.4 billion during the first quarter of 2019.
The figures issued by the Central Bank of UAE (CBE) showed that the index of water, electricity and gas projects continued to rise during the past months, bringing the total balance of financial facilities to AED 18.4 billion at the end of March compared to AED 17 billion in December 2018. .
The banks’ policy of continuing to finance this type of project coincides with the government’s interest in strengthening infrastructure facilities, enabling the UAE to secure a leading position in the list of the most advanced countries in the field of infrastructure worldwide, according to specialized international institutions.
The official figures show that the financial facilities obtained by the water, electricity and gas projects accounted for about 2% of the total funding provided by the banking system for all economic activities by the end of the first quarter of this year, which amounted to 1.529 trillion dirhams.
The banking system is expected to expand in the financing of infrastructure projects, including water, electricity and gas projects during the next phase, especially with the announcement of major development and real estate projects in the country, in addition to other large projects being implemented as part of the preparations for the Expo 2020.