Additional DH 16 billion stimulus package announced by Sheikh Mohammed, UAE

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has announced an additional stimulus package to fight the economic effects of Covid-19 coronavirus.

The UAE Cabinet, presided over by Sheikh Mohammed, approved a new economic support package worth Dh16 billion on Sunday – taking the total stimulus package to Dh126 billion.

His Highness added via his twitter account: “We Also approved new measures to reduce the cost for small companies and accelerate the implementation of governmental infrastructure projects.”

Commenting on the Covid-19 pandemic, “Coronavirus is a virus that affects health, economy and policy too, and I want to tell all countries around the world that this is the time we work together to fight the most dangerous enemy of humanity…disputes are nothing compared to this new challenge and the world can beat it faster if the strong helped the weak, and the rich helped the poor.”