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Sat 4 Apr 2020 05:59 PM

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Dubai Chamber donates $2.7m to coronavirus solidarity fund

Chamber has already received a 'considerable number' of pledges from multinationals and family businesses in the emirate

Dubai Chamber donates $2.7m to coronavirus solidarity fund

Hamad Buamim, president and CEO of the Dubai Chamber of Commerce and Industry revealed that the initial donation will be flowed by a series of initiatives encouraging private businesses to follow suit.

Dubai Chamber has donated AED10 million ($2.7m) to the newly created Community Solidarity Fund Against Covid-19.

The fund has been set up by the Islamic Affairs and Charitable Activities Department and is designed to accept community contributions and donations to combat the coronavirus outbreak.

Hamad Buamim, president and CEO of the Dubai Chamber of Commerce and Industry revealed that the initial donation will be flowed by a series of initiatives encouraging private businesses to follow suit.

The chamber has already received a “considerable number” of pledges from multinationals and family businesses in the emirate.

Buamim said: “The upcoming period will see the private sector come together even further to face common threats. The sector will prove that it is beyond prepared to play its part in serving the community.”

There are currently plans to help small and medium enterprises (SMEs) struggling through the current tough economic conditions. However, Buamim said the fund would also help blue collar workers who have completed their work and want to go home, but don’t have the money to do so.

He added: “The issue of construction workers has economic, social, and health aspects to it. With that in mind, the chamber is committed to supporting workers in the sector from a logistical and humanitarian point of view, in keeping with our mandate to represent, support, and protect the interests of the business community in the emirate.”

Buamim said that the chamber will be conducting studies on market performance, and assessing the current crisis, its development, and potential ramifications. This would then allow decision makers in the government and the business sector to see the full picture and propose pragmatic solutions to address the crisis.

To date there are 1,264 confirmed cases of coronavirus in the UAE and nine deaths.

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