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HSBC commits $5 billion for UAE businesses with global growth plans

Dubai: HSBC is committing $5 billion of lending to support strong companies in the UAE that need new capital to drive well-developed plans to grow their businesses globally. “In the year that the nation celebrates its Golden Jubilee and that HSBC marks 75 years of being the first bank to open its doors for business here, the time is right to launch an initiative to support strong UAE businesses that have bold visions of the future and the prospects to achieve them,” said Abdulfattah Sharaf, CEO HSBC UAE and Head of International. According to HSBC’s Navigator 2020 report, 81 per cent of UAE companies intend to increase investment spending by the end of 2021 versus 66 per cent of companies globally, while 90 per cent expect to expand international trade over 12-18 months versus 72 per cent globally.

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