UAE’s Emirates Development Bank to allocate $8 bln for vital companies

The state-run Emirates Development Bank plans to allocate 30 billion dirhams ($8.17 billion) in the coming years to support companies in sectors considered as priority for the economy, the United Arab Emirates’ prime minister said on Monday.

“The target is to fund 13,500 new companies,” Sheikh Mohammed Bin Rashid Al-Maktoum said on Twitter.

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