Home GCC UAE UAE Central Bank extends economic-support programme until mid-2022 Banks can draw on the facility to provide new loans and financing by Bloomberg April 20, 2021 The United Arab Emirates extends its economic support programme launched in response to the coronavirus pandemic until the middle of next year, the Gulf state’s central bank said. Financial institutions will continue to be able to tap a collateralized Dhs50bn ($13.6bn) zero-cost liquidity facility until June 30 next year, according to a statement. Banks can draw on the facility to provide new loans and financing to individuals, small and medium-sized enterprises, and other private corporates affected by the virus fallout. Financing for loan deferrals under the programme will also be extended until the end of 2021, while outstanding financing for deferrals will be fully phased out by the end of this year, the central bank said. Tags UAE Central Bank 0 Comments You might also like UAE Central Bank holds interest rates steady as US Fed hits pause on hikes UAE Central Bank raises interest rate by 75 basis points UAE Central Bank raises base rate by 75 basis points UAE Central Bank raises base rate by 50 basis points