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UAE’s $8.2 billion strategy a ‘game-changer’ for start-ups

Emirates Development Bank Strategy provides much-needed support for the country’s small and medium businesses, especially women-led businesses, which have been struggling since the pandemic

UAE's $8.2 billion strategy approval is a 'game-changer' for start-ups & SMEs

Emirates Development Bank (EDB) Strategy launched to support the recently announced ‘Operation 300bn’

The AED 30 billion ($8.2 billion) package of financial support for UAE’s SMEs and startups provides needed relief for the country’s businesses as they rebuild in the wake of coronavirus, industry stakeholders agreed.

Following a particularly turbulent year of lockdowns and closures during the pandemic, the Emirates Development Bank Strategy was positively received by the UAE’s SMEs and startup community.

The initiative appears to be a very comprehensive and generous one and will be a game-changer in making the small businesses sector flourish in the form of larger employment and greater prosperity in the coming years,” said Prashant K Gulati, trustee, global board of TiE and president emeritus, TiE Dubai, an organisation which supports entrepreneurs.