Abu Dhabi Starts $1.6 Billion Supply-Chain Financing for SMEs

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Abu Dhabi started a 6-billion dirham ($1.6 billion) supply-chain financing for small and medium-sized enterprises to help them weather the impact of the coronavirus.

The first phase of the initiative targets the healthcare sector and will partner the National Health Insurance Co., also known as Daman, and First Abu Dhabi Bank PJSC, according to Abu Dhabi’s Department of Finance.

It aims to facilitate quick payment of SMEs’ receivables and reduce their costs of working capital, it said.

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An AED 6 billion supply chain financing initiative has been launched by the Abu Dhabi Department of Finance to increase liquidity for SMEs in a variety of sectors. The first phase, delivered in partnership with Daman and FAB, is focused on the healthcare sector.12:00 PM · Jan 17, 2021

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