AED27 bn in credit facilities provided to logistics, storage communications sectors in H1-2020
ABU DHABI -- Total credit facilities provided to the logistics, storage and communications sectors in the UAE amounted to AED84 billion by the end of June 2020 from AED57 bn in December 2019 , according to figures revealed by the Central Bank of the United Arab Emirates.
According to the CBUAE's data, credit provided to these sectors in H1 of 2020 reached around AED27 bn, reflecting the significant role played by these sectors in accelerating economic growth, specially against the backdrop of the fallout of the COVID-19 pandemic on various economic sectors.
These sectors contribute around AED127.7 bn, or 12.3 percent, to the country's non-oil Gross Domestic Product, figures released by the Federal Competitiveness and Statistics Authority have shown. wam