UAE-based consumer cooperative, Union Coop has allocated an approximately AED15 million budget to support suppliers of goods and products to its branches. This comes amidst COVID-19 pandemic and within Union Coop’s corporate social responsibility framework to accelerate the recovery of the economic sector in the country.
“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,” stated Khalid Humaid Bin Diban Al Falasi, CEO, Union Coop.
Union Coop had previously allocated AED17 million to support preventive measures and initiatives with the government agencies to confront the pandemic, thereby committing over AED31 million.
Union Coop had formed a working group to review the situation of suppliers in its commercial outlets in order to provide appropriate support for them to ensure business continuity and mitigate the losses they incurred due to the COVID-19 pandemic.
“Union Coop works continuously in light of this pandemic to provide goods for all segments of society, in addition to creating a sustainable food stock that contributes to maintaining the stability of markets and prices,” Al Falasi concluded.