Wednesday 7 April 2010

Exclusive: Dubai can fund rescue plan, sees "small issues"



Dubai has the money to pay its share of Dubai World's rescue plan and can help other state-linked firms that may be facing "small issues," the vice chairman of the emirate's top fiscal body said in an interview.

Dubai unveiled a $9.5 billion rescue plan for Dubai World last month, as part of its offer to repay creditors of the state-owned conglomerate.

The plan relies on Dubai stumping up $3.8 billion from "internal government resources." The remainder comes from a previous loan from wealthy neighboring emirate Abu Dhabi.

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