Q & A: How Dubai Inc can pay the bills?
The fund, established in July 2009 to help state-owned companies, may have US$1.55 billion (Dh5.69bn) that has yet to be drawn down, estimates Exotix, based on last June's prospectus. Much of this cash may be earmarked for Nakheel, which has already benefited from a last-minute intervention by the fund to repay a $3.5bn bond that matured in December 2009. But funds could also be deployed to assist other companies facing repayments this year, including DIFC Investments and Jebel Ali Free Zone. The laws governing the fund were amended last year to allow it to support non-government entities and sell debt instruments for the Dubai Government.
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