UAE approves $8.6bn financial aid for industrial firms, SMEs
ABU DHABI, 6 hours, 10 minutes ago HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has approved the Emirates Development Bank (EDB) Strategy to provide a sizeable AED30 billion ($8.16 billion) financial support to businesses and start-ups in a major step to drive the national economy. Launched to support “Operation 300bn”, the EDB Strategy aims to leverage the bank’s role as a key driver of the national economy to provide the largest support network for the industrial sector. The EDB Strategy was launched in the presence of Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, among other delegates and officials.
Mohammed approves Dhs30 billion financial support for businesses
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