Abu Dhabi reveals multi-billion dirham plan to lessen impact of coronavirus

Abu Dhabi

Abu Dhabi announced a number of new initiatives aimed at supporting businesses during the current crisis surrounding the coronavirus.

Directed by Abu Dhabi Crown Prince, Mohamed bin Zayed, Abu Dhabi Executive Council revealed a total of 16 new initiatives.

The fast-tracked Ghadan 21 initiatives will be implemented immediately and will enable Abu Dhabi to "adapt swiftly to both current and future challenges", according to a statement on Twitter.

They follow the UAE central bank's announcement last week to roll out a AED100 billion package to support its banks as it seeks to mitigate the economic impact of the coronavirus.

The initiatives include no annual registration fees for commercial vehicles, no toll gate tariffs for all vehicles and no real estate registration fees for the remainder of 2020.