FNC Financial Affairs Committee discusses housing initiatives

The Federal National Council, FNC, Financial, Economic and Industrial Affairs Committee was briefed about initiatives and opportunities related to supporting the development of the housing sector while discussing the policy of the Emirates Development Bank.

The discussion took place during the committee's meeting that was held yesterday at the headquarters of the FNC General Secretariat in Dubai, which was chaired by Majid Hamad Al Shamsi, Chairman of the Committee, and was attended by the representatives of the Mohammed bin Rashid Housing Establishment, the Abu Dhabi Housing Authority and the Sharjah Housing Authority.

The committee discussed the topic through four key pillars, which are the strategic plans of the Emirates Development Bank, coordinating with relevant authorities to fund the housing sector, and funding small and medium-sized enterprises, SME, vital sectors and infrastructure projects.

Al Shamsi said that the committee is monitoring the discussions according to a plan that includes holding meetings with relevant housing authorities, and discussed several issues with their representatives, who presented their plans to fund public housing projects.

He added that the committee discussed the challenges facing these authorities with regards to achieving fund liquidity, to address the growing demand for public housing loans, as well as other challenges and their solutions.

Al Shamsi highlighted the keenness of the FNC to discuss the maximum number of topics related to implementing the "Strategic Parliamentary Plan 2016-2021," which aims to achieve the best parliamentary performance, under the framework of the FNC’s legislative and monitoring functions and in line with the directives of the wise leadership to make citizens happy and achieve leading positions in global competitiveness indexes.

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