By Martin Dokoupil
Facility was set up in 2008 to inject liquidity into the country's banking system.
The UAE still has AED20bn left out of a AED70bn facility set up in 2008 to inject liquidity into the country's banking system, the emirate's deputy finance minister said on Wednesday."20 (billion dirhams) is still with us. 20 from the 70 (billion dirhams)," Younis Al Khouri, director general at the finance ministry, said when asked about how much of the facility has been used so far.
Lenders in the UAE used the facility established during the financial crisis to help revive liquidity among the banks. (Reuters)
I still dont understand this declaration. To whoever i speak to in the real estate or construction industry they still say payments coming from Developers are still far far away. If so much money was injected in the system where is it and where the projects and handovers ? what happens after this 20bn is injected as well... ? which will be soon i guess.