HSBC Launched $100 million SME fund in the UAE

The UAE Ministry of Economy signed a Memorandum of Understanding with HSBC Middle East to support the international expansion of the country’s small and medium-sized enterprises.

As per the MoU, HSBC has launched a $100 million fund specifically for UAE companies with a turnover of $30 million or below, which are engaged in cross-border business. HSBC UAE has around 20,000 SME customers.

Their full press release follows