Dubai: The UAE on Sunday approved an additional Dh16 billion to address the effects of the coronavirus outbreak, bringing to Dh126 billion the total stimulus package in the country, the Dubai Media office reported.
The move, approved by the UAE Cabinet on Sunday, is aimed at easing the coronavirus impact in the country.
The financial support package was endorsed today during a UAE Cabinet meeting held virtually for the first time ever.
The remote meeting was chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The new package of measures has the following aims:
- Reducing the cost of doing business
- Supporting small businesses
- Accelerating the implementation of major government infrastructure projects
3 teams formed
During the virtual meeting, the UAE Cabinet also formed three teams to ensure the sustainability of services and the effectiveness of remote work systems.
The teams will have to submit a daily report on the economic and financial impacts of the Coronavirus and the country's precautionary measures.
“Our message for everyone is that we are completely ready to deal with all circumstances,” said Sheikh Mohammed.
“Over the past 10 years, we have invested in smart learning, electronic and smart services to enhance our readiness for emergencies and disasters.
"Today we are reaping the fruits of our strenuous efforts as evidenced by the continuation of our educational process and basic government services. We are being proactive in dealing with global health conditions,” Dubai Ruler affirmed on his twitter page.
Adopted new systems
“We have adopted new systems in the banking, economic, and public sectors and provided a healthy infrastructure to deal with the worst possibilities. We have a national team that works around the clock.
"We will safeguard the health of our society. We will protect our economy. We will protect education. We will cross such a global crisis with confidence” the Vice President added.
A time for unity
“Coronavirus is a health virus, an economic virus, and a political virus too... and we say to all the countries of the world: It is the time for unity, cooperation and solidarity to fight the worst enemy of humankind.
"All differences diminish in the face of this challenge and the world can overcome it faster if the strong stood with the weak and the rich with the poor”, Sheikh Mohammed tweeted.