Emirates NBD reveals criteria for SMEs to participate in first phase of AED500 million ‘Dubai International Growth Initiative’

Emirates NBD reveals criteria for SMEs to participate in first phase of AED500 million ‘Dubai International Growth Initiative’

Emirates NBD today revealed the criteria for small and medium enterprises (SMEs) to participate in the first phase of the AED500 million 'Dubai International Growth Initiative'. The groundbreaking initiative was introduced in January by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, to accelerate the global expansion of Dubai-founded small and medium enterprises (SMEs).
Launched to strengthen Dubai’s position as a leading global business hub and support the important role the private sector plays in nurturing the growth of the emirate’s economy, the 'Dubai International Growth Initiative' is aligned with the goal of the Dubai Economic Agenda D33 to double the size of the emirate's GDP. 
The first phase of the initiative is open to Dubai-founded SMEs in select sectors including food and beverage (F&B), fast moving consumer goods (FMCG), retail, including parts and machinery distribution, e-commerce, services and manufacturing. Additional sectors will be added in subsequent phases. Focusing on Dubai's key strategic sectors, the initiative ensures that approved participants will gain access to financing for their global expansion. 
Through the support of Emirates NBD, the initiative will facilitate up to AED15 million in financing to eligible businesses for