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UAE rolls out AED 6 bln supply chain financing initiative

Friday 22 January 2021 13:58 CET | News

The UAE has pledged to support small and medium enterprises (SMEs) across sectors with a AED 6 billion supply chain financing initiative, according to logisticsmiddleeast.com.

The first stage of the plan aims to enhance liquidity among SMEs in the healthcare sector, according to state news agency WAM, cited by logisticsmiddleeast.com. Banks and other sectors will benefit in the ensuing stages of the initiative.

SMEs in the emirates made up 29% of GDP and 44% of the non-oil economy in 2019. The initiative includes a partnership between Daman and the Department of Finance and FAB to ensure business continuity and liquidity for those committed to protecting the health and safety of Abu Dhabi citizens and residents.


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Keywords: Abu Dhabi, SME, supply chain finance, SCF, initiative, Daman, Department of Finance, FAB, UAE
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: United Arab Emirates
This article is part of category

Banking & Fintech