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Abu Dhabi announced a stimulus package on Monday following directives from His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
The full statement by Abu Dhabi Media Office:
'Following Sheikh Mohamed bin Zayed's directives, the Executive Council has launched a new set of initiatives under Ghadan 21 that aim to preserve Abu Dhabi's economic gains, support the private sector and prioritise supporting startups. The initiatives include:
Following Mohamed bin Zayed's directives, the Executive Council has launched a new set of initiatives under Ghadan 21 that aim to preserve Abu Dhabi's economic gains, support the private sector and prioritise supporting statups. The initiatives include:- Allocating Dh5 billion to subsidise water and electricity for citizens, and commercial and industrial activities.
- Abu Dhabi Government Media Office (@admediaoffice) March 16, 2020
Khaled bin Mohamed bin Zayed: We are thankful for Sheikh Mohamed bin Zayed's vision & for endorsing new economic initiatives.
Guided by Hazza bin Zayed & Tahnoun bin Zayed, we will announce new initiatives to address current challenges and maintain Abu Dhabi's economic stability.
- Abu Dhabi Government Media Office (@admediaoffice) March 16, 2020
Khaled bin Mohamed bin Zayed: Ghadan21 initiatives implemented last year have expanded the ways we support companies in Abu Dhabi. And today, we are fast-tracking new initiatives that tackle current economic challenges and accelerate development at the same time.- Allocating Dh3b to the SME (small medium enterprise) credit guarantee scheme managed by Abu Dhabi Investment Office to stimulate financing by local banks and enhance SME's ability to navigate the current market environment.
- Abu Dhabi Government Media Office (@admediaoffice) March 16, 2020
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