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Covid-19: Union Coop backs suppliers with $4m

DUBAI, June 9, 2020

Union Coop, a major consumer cooperative in the UAE, has approved a budget of AED14.682 million ($4 million) to support suppliers of goods and products to its branches.

The move comes within the framework of the corporate social responsibility and contributing to accelerating the recovery of the economic sector in the Emirate of Dubai and the country, in line with the vision of the wise leadership.

Khalid Humaid Bin Diban Al Falasi, CEO of Union Coop, said: “Out of patriotism and to contribute together with the wise government in supporting the economy, Union Coop launched an initiative under the directives of the Board of Directors to support the national economy, to ensure business continuity and contribute to curbing the negative damage caused by the Corona pandemic.”

He indicated that Union Coop had previously allocated an initial amount of AED17 Million to support preventive measures and initiatives with the Government agencies to confront the pandemic, thereby making the total over AED31 Million.

“Union Coop operates as a national economic entity that dominates the interests of the country over material interests and goals, explaining that the incentive packages and initiatives presented to government agencies and Union Coop suppliers come from the concept of teamwork and the concept of a collective economic renaissance,” he added.

He explained that Union Coop has formed a working group to study the current situation of suppliers in its commercial outlets in order to provide the appropriate support for them to ensure the continuity of their businesses and mitigate the losses they suffered due to pandemic as the CEO believes we all are one big team and travel in the same boat.

“Union Coop works continuously in light of this pandemic to provide products and goods for all segments of society, in addition to its work to provide a sustainable food stock that contributes to maintaining the stability of markets and prices," added Al Falasi. – TradeArabia News Service
 




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