Emirates Development Bank to allocate $8 bln for vital companies

The state-run Emirates Development Bank plans to allocate 30 billion dirhams ($8.17 billion) in the coming years to support companies in sectors considered as a priority for the economy, the United Arab Emirates prime minister said on Monday.

"The target is to fund 13,500 new companies," Sheikh Mohammed Bin Rashid Al-Maktoum said on Twitter ($1 = 3.6728 UAE dirham)