The Emirates Development Bank approved the trade finance facility to JLW Middle East for the 6MW data centre
The Emirates Development Bank (EDB) has approved a trade finance facility to JLW Middle East for the design and construction of a 60MW data centre located in Abu Dhabi’s Masdar City.
“The completion of a data centre in Masdar will enhance the UAE’s digital infrastructure and gradual transition to a fully-fledged digital economy which accelerates data sovereignty, possibilities of data analytics and other development in data-centric technologies in the UAE,” said Ahmed Mohamed Al Naqbi, the Chief Executive of EDB.
Al Naqbi pointed out that in today’s technology-driven economy, data centres are vital to successful and continuous business operations and the development of advanced technology ecosystems.
“The financing requirement from JLW, one of the region’s leading specialised electro-mechanical engineering, procurement and construction contractors in this field, satisfied a number of our lending eligibility criteria and scored high on our proprietary developmental scorecard, we are delighted we can support the completion of this start-of-the-art facility,” he added.
“As one of the few large specialist MEP contractors in the Mena region, we understand that accessing the right financing for this kind of undertaking can be a challenging and complex process, but EDB’s flexible and highly competitive solution will ensure we will meet our client’s exacting standards,” said Michael Boufarhat, the Chairman and CEO, Middle East, JLW.
