The President of the United Arab Emirates on Wednesday ordered the establishment of a fund of 10 billion dirham (2.7 billion U.S. dollars) to help pay the loans of low-income citizens, state news agency WAM said.
The move aimed at providing a better life to citizens, and personal loans of the poor citizens would be settled in coordination with the Central Bank and creditor banks in the state, WAM reported.
The agency said President Sheikh Khalifa bin Zayed al-Nahayan also ordered to increase salaries of all federal government employees with effect from January 2012 to mark the 40th anniversary of the founding of the UAE.
Public sector workers will get raises of as much as 45 percent. Some state employees in the judiciary, health and education sectors will see their basic salaries or allowances doubled from January, according to WAM.
The UAE was established on Dec. 2, 1971, when seven emirates joined to form one state. It enjoys one of the world's highest per capita incomes with around 48,000 dollars.
The president also ordered government departments to treat children of female citizens married to foreigners equally like citizens. It also granted the sons of female citizens married to foreigners the right to apply for the UAE nationality at the age of 18.