$12bln in credit facilities received by key sectors in 2020: UAE Central Bank

Transport, storage and communications sectors played a key role in ensuring sustainable food supply chain movements in times of crisis

  
UAE dirhams. Image used for illustrative purpose.

UAE dirhams. Image used for illustrative purpose.

Getty Images

ABU DHABI: The UAE transport, storage, communications construction and real estate sectors received AED44.1 billion in credit facilities in 2020, according to statistics revealed by the Central Bank of the UAE.

Proving to be a catalyst for economic growth despite the global slowdown, the transport, storage and communications sectors played a key role in ensuring sustainable food supply chain movements in times of crisis, and received AED27.7 bn in loans last year, 48.6 percent up from 2019, which brought to AED85 bn the cumulative loan volume these sectors received by the end of last year.

Real estate and construction platforms received AED16.4 bn in 2020, 5.3 percent up from 2019, bringing to AED328 bn the cumulative loan volume received by this sector by the end of last year.

© Copyright Emirates News Agency (WAM) 2021.