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HSBC Commits $5 Billion to UAE Firms Seeking Global Expansion

HSBC Holdings Plc is committing $5 billion of lending to United Arab Emirates-based businesses that need capital to expand globally.

“Our $5 billion commitment, between now and 2023, will support plans that strong companies have to enter new trade markets, re-engineer their supply chains, to innovate,” Abdulfattah Sharaf, chief executive officer of HSBC UAE, said in a statement.