(Bloomberg) --
Abu Dhabi started a 6-billion dirham ($1.6 billion) supply-chain financing for small and medium-sized enterprises to help them weather the impact of the coronavirus.
The first phase of the initiative targets the healthcare sector and will partner the National Health Insurance Co., also known as Daman, and First Abu Dhabi Bank PJSC, according to Abu Dhabi’s Department of Finance.
It aims to facilitate quick payment of SMEs’ receivables and reduce their costs of working capital, it said.
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