A Dh500 million fund has been launched to support small and medium enterprisers and boost Dubai’s business environment

500 million dirhams have been allocated to the programme developed by Dubai to accelerate the entry of small and medium-sized enterprises into global markets. The Government of Dubai launched this initiative in partnership with Emirates NBD.

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, said: “The Dubai International Growth Initiative, which allocates 500 million dirhams to support small and medium-sized businesses, serves as a strategic commitment for the future development of the Dubai economy.”

“Dubai’s dynamic business environment has contributed to the creation of numerous success stories around the world and inspired entrepreneurs to make a noticeable impact with their ideas and initiatives. Today we are pleased to announce the launch of the Dubai International Growth Fund for Small and Medium-Sized Enterprises, created as part of a partnership between the Government of Dubai and Emirates NBD,” Sheikh Hamdan said in his official X account.

The programme is open to all small and medium-sized enterprises established in Dubai, regardless of the nationality of their owners, and is aimed at expanding international business opportunities. The initiative will focus on key strategic sectors of the Emirate of Dubai.

Emirates NBD will provide loans to relevant companies at competitive rates using the Emirates Interbank Offered Rate (EIBOR) without margin. Emirates NBD will announce details of financing opportunities in February.