The Dubai government has announced it will provide $9.5bn (£6.4bn) in funding to help its Dubai World investment vehicle to restructure its debt.
The troubled company has presented a plan to restructure $23.5bn of debt to its creditors, including converting $8.9bn of debt into equity.
Creditors will now decide on whether to accept the plan.
Dubai World stunned global markets in November last year when it asked for a six-month delay on debt repayments.
