Increasing intra- and inter-regional trade of UAE’s small and medium businesses as well as the acceptable performance of its previous SME funds have led HSBC to commit to a one billion dirham International Growth Fund, which was launched in Dubai yesterday.
The British multinational bank dedicated $100 million each for 2010 and 2011 and Dh1 billion in 2012 towards the cause of SME funding, which has been a much talked about issue for the sector’s enterprises.