COVID 19: Union Coop Supports its Suppliers with AED 15 Million
Prepared By: Benoi Nair
The cooperative allocates AED 31 Million to combat the slowdown of Coronavirus
Union Coop, the largest consumer cooperative in the UAE, revealed its approval of a budget of AED 14 million and 682 thousand to support suppliers of goods and products to its branches, this 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.
H.E. Khalid Humaid Bin Diban Al Falasi, CEO of Union Coop, pointed out that: “ 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,” indicating that Union Coop had previously allocated an initial amount of AED 17 Million to support preventive measures and initiatives with the Government agencies to confront the pandemic, thereby making the total over AED 31 Million.
He added: “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.”
According to the CEO: “At Union Coop, we are aware of the size of the current challenges posed by the pandemic Coronavirus and its negative effects on all sectors,” explaining that Union Coop 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,” adds Al Falasi, noting that Union Coop as a National Economic entity contributes and supports all sectors to overcome the repercussions of the current global crisis.