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HSBC plans to lend $5 billion to strong companies in the UAE that need new capital to drive well-developed plans to grow their businesses globally.
Incentives, including green lending discounts and certifications, access to targeted growth programmes, and trade-related benefits such as green trade assessments and facilities, will be offered to businesses that meet the required criteria, the bank said in a statement Sunday.
According to research by the lender, 81 per cent of UAE companies intend to increase investment spending by the end of 2021 versus 66 per cent of companies globally, while 90 per cent expect to expand international trade over 12-18 months versus 72 per cent globally.
The same research showed that 99 per cent of UAE companies see opportunities to benefit from increasing investments in environmental, ethical and sustainable strategies, compared with a global average of 90 per cent.
Abdulfattah Sharaf, CEO HSBC UAE and Head of International, said: “Our $5 billion commitment, between now and 2023, will support plans that strong companies have to enter new trade markets, re-engineer their supply chains, to innovate – and to play an active part in helping shape the nation’s future growth story.”
(Writing by Brinda Darasha; editing by Seban Scaria)
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