The Emirates Industrial Bank (EIB) Tuesday approved loans of Dh13 million for two projects, taking its total loans and advances to Dh178.5 million ($48.6m) for the year, the Gulf News reported Wednesday.
In 1999, the figure was Dh158.86 million.
The two new projects are in the building materials and basic metals sectors, the paper said, adding that the bank's board also approved a Dh18 million budget for the bank's expenses in 2001.
The bank also approved a bonus for staff and raised the eligible age of dependents from 18 to 24 years for medical treatment entitlement in accordance with the medical insurance policy -- Albawaba.com
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