Aid from stimulus package for construction sector
26 February 2009
The first set of aid from the stimulus package from the Dubai authorities to combat the economic crisis could be assigned to the building sector, announced Director General of Dubaìs Finance Department Nasser Al Shaikh in daily newspaper Khaleej Times.
"We are working on mechanisms to provide funds not only to pay off debts, but also to support development projects which are already under way" he explained, adding that for the moment Dubai is not considering recapitalising its banks, the option taken by Abu Dhabi with an injection of EUR 3.4 billion into its banking sector two weeks ago.