HSBC launches fund to help small businesses in UAE

12 January 2010

HSBC Bank Middle East has launched a $100m fund specifically for UAE small and medium-sized enterprises with a turnover of $30m or below. SMEs in the UAE that need working capital finance for international expansion will be able to utilize the fund, with high priority accorded to Emirati-owned businesses. The fund is the result of a memorandum of understanding that the lender signed with the ministry of economy.

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