DIB funds nine new investment projects
The Mohammed Bin Rashid Establishment for Young Business Leaders, in cooperation with Dubai Islamic Bank (DIB), has approved funding for nine new projects in diverse sectors including tourism, event management, handicrafts, medical training, financial accounting, consultancy and trade and marketing of food products.
“The total finance of over 10 million Emirati dirhams ($2.7 million) for nine new projects is aimed at supporting these projects and helping them to become successful ventures,” explained Chief Executive Officer of DIB, Butti Khalifa Bin Darwish.
Darwish also explained that DIB has “created a specialist team in collaboration with the establishment to evaluate applications and help applicants. DIB will further support these ventures by allocating 10 percent of its total annual purchase requirements to businesses registered under the establishment.”
Launched by Crown Prince of Dubai and United Arab Emirates (UAE) Minister of Defense, Sheikh Mohammed Bin Rashid Al-Maktoum, the Mohammed Bin Rashid Establishment for Young Business Leaders is a strategic initiative of the Dubai Development and Investment Authority. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
