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UAE Launches Emirates Development Bank

The United Arab Emirates is establishing the Emirates Development Bank.

The United Arab Emirates is establishing the Emirates Development Bank, Bloomberg reports. The bank will be set up with $2.7 billion of capital to help economic growth in the nation.

The lender will support the U.A.E.’s development efforts, including industrial and real estate projects. It will also facilitate real estate loan applications and offer financial services for small and medium-sized businesses. Additionally, the bank will provide advice and feasibility studies.

Click here for the story from Bloomberg.

Click here for additional coverage from Gulf News.

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