In response to the industrial needs of the UAE, and in order to carry out its objectives, the EIB provides long term loans to both new and existing industrial projects that are in need of such financing. The maximum term of such financing is eight years, in addition to any grace period that may be approved after an appraisal of the project's cash flow. Due to the importance of long term funding in industrial development, EIB provides such financing in different forms to encourage and assist industrial investors. Through this service EIB aims at increasing the value added in the manufacturing sector in the UAE and in turn its contribution to the GDP.