2024-01-30 04:58:00
Dubai has announced a Dh500 million ($136 million) fund to support the growth and global expansion of small and medium enterprises (SMEs). This was announced by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council.
The “Dubai International Growth Fund” formed by the Government of Dubai and Emirates NBD will help in the growth of small businesses. The initiative will focus on key strategic areas in the emirate. Shaikh Hamdan said that entrepreneurs from around the world who have chosen Dubai as their starting point will be continuously supported locally and internationally, and the participation of entrepreneurs is essential to achieve the goals of the Dubai Economic Agenda D33.
Emirates NBD will provide financing to eligible companies at competitive rates. A joint steering committee comprising representatives of the Government of Dubai and Emirates NBD will be formed to guide the initiative and select eligible SMEs.
The scheme is designed to help all SMEs established in Dubai, regardless of the nationality of the owner, grow internationally and empower businesses. Emirates NBD will announce further details on the financing program in February.
1706597489
#Sheikh #Hamdan #announced #million #dirhams #Dubai #SME #sector