Dubai has unveiled the Dh500 million ‘Dubai International Growth Initiative’ aimed at bolstering small and mid-sized businesses in sectors like food and beverage, fast-moving consumer goods, retail, e-commerce, services, and manufacturing. This initiative, in alignment with the Dubai Economic Agenda D33’s ambition to double the emirate’s GDP, offers funding support of up to Dh15 million for eligible SMEs over a period of up to 7 years, with backing from Emirates NBD. 
A joint steering committee, comprising representatives from the Dubai Government and Emirates NBD, will oversee the program’s implementation. To qualify, SMEs must be established and operating in Dubai with a proven successful business model, intending to utilize the financing for global expansion while demonstrating sound cash flow management and presenting a robust business plan.
Once eligibility criteria are met, applicants undergo thorough evaluation by dedicated specialists and the joint steering committee for potential inclusion in the initiative. Successful candidates will collaborate with Emirates NBD to access tailored financial solutions tailored to their growth requirements.
The application process is open to all Dubai-founded SMEs, irrespective of ownership nationality, fostering inclusivity and international expansion opportunities. Future phases of the initiative will incorporate additional sectors, with a focus on Dubai’s strategic industries, ensuring approved participants have access to financing for their global endeavors.
The funds disbursed will enable effective cash flow management during the expansion phase, with financing costs determined by the Emirates Interbank Offered Rate (EIBOR), ensuring transparency and affordability for SMEs.