Coronavirus: UAE Cabinet approves additional AED16 billion package

This brings total value to AED126.5 billion
ByNina StankovaMonday , 23 March 2020
Coronavirus: UAE Cabinet approves additional AED16 billion package
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The UAE on Sunday approved an additional AED16 billion to address the effects of the coronavirus outbreak, bringing the total stimulus package to 126 billion.

The UAE Cabinet meeting was held virtually for the first time ever.

The new package of measures aims at reducing the cost of doing business, supporting small businesses and accelerating the implementation of major government infrastructure projects.

During the meeting, HH Sheikh Mohammed said that the UAE government is ready to deal with all future circumstances, adding that the country will be part of the global efforts to contain Covid-19 pandemic.

"Our message for everyone is that we are completely ready to deal with all circumstances." 

He also added that this is the time unity is required in the world:

“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.”

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