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Abu Dhabi is introducing a Dh6 billion supply chain financing initiative to back a variety of sectors as part of its efforts to support small and medium enterprises (SMEs).
The first phase of the Abu Dhabi Department of Finance (DoF) initiative, which aims to provide liquidity to SMEs in the healthcare sector, will be delivered by National Health Insurance Company (Daman) and First Abu Dhabi Bank (FAB), it said in a statement on Sunday. As part of our forward-looking fiscal sustainability strategy, we are proactively launching this initiative in order to underpin continued liquidity for SMEs in Abu Dhabi, Jassem AlZaabi, chairman of the Abu Dhabi DoF, said. SMEs are the lifeblood of the economy, and key to long-term sustainable growth for the emirate of Abu Dhabi.