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UAE C.bank supports ADNOC’s ICV programme

UAE C.bank supports ADNOC’s ICV programme
ADNOC will spend an amount of AED 18 billion in its recently launched ICV programme

Abu Dhabi – Mubasher: The Central Bank of the UAE (CBUAE) has worked with Abu Dhabi National Oil Company (ADNOC) closely during the full-year 2017 to support its In-Country Value (ICV) programme, CBUAE governor Mubarak Rashed Al Mansoori has said.

“[The programme] focuses on increasing the use of local goods and services, creating jobs, and encouraging more exports," Al Mansoori added on the sidelines of ADNOC’s third annual Business Partnership Forum.

In a separate statement, ADNOC announced on Thursday that it will spend AED 18 billion in its recently launched ICV programme by the end of 2018.  

The state-owned oil company established the programme to create additional skilled employment opportunities for UAE nationals and further maximise the use of local products, manufacturing and assembly facilities, services and infrastructure.