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UAE- Khalifa Fund for Enterprise Development bolsters emiratisation, enterprises  Join our daily free Newsletter

MENAFN - Emirates News Agency (WAM) - 11/02/2013

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(MENAFN - Emirates News Agency (WAM)) Khalifa Fund for Enterprise Development funded 149 projects during 2012 with a total amount of Dh53.3 million, where the fund's performance came in line with its pre-planned strategic plans", said Hussain Jassim Al Nowais the Chairman of Khalifa Fund for Enterprise Development.

"The funded projects were distributed between all economic segments in the United Arab Emirates, the investment visibility and the added value plus the entrepreneur commitment are the essential standards to receive the required funds", he Al Nowais.

"The number of funded projects increased since the launching of Khalifa Fund's services in 2007 to 460 projects with a total amount of Dh758 million which distributed in all over the United Arab Emirates, as the benefited projects from the Fund's services are distributed in all the emirates", added Al Nowais.

Since its establishment till end of 2012 the Fund approved 73 projects through Khutwa Program, 260 through Bedaya Programme and 100 projects through Zeyada Programme; in addition to 8 projects through Tasnea Programme, 5 through the Micro-finance Programme and 4 projects through Al Hasela Programme which targeted the fishermen.

The Fund's database shows that Khalifa Fund approved funding 122 projects in industry sector with a total amount of Dh300 million, 41 projects in agriculture sector with a total amount of Dh41.1 million, 207 projects in services sector with a total amount of Dh276.7 million, in addition to Dh2 million were allocated to fund three tourism projects and 105 projects in the commercial sector with a total amount of 137.7 million dirhams.

"Khalifa Fund for Enterprise Development and during the last year accomplished many initiatives which targeted to empower the spirit of entrepreneurship, innovation and creativity plus supporting the small and medium sized enterprises and to allow it to do its vital role in supporting the development of Abu Dhabi", said Al Nowais.

"During the last year we launched Imtiyaz Programme with cooperation with National Bank of Abu Dhabi which targets to provide direct investment to the small and medium sized enterprise which are owned completely or partially to the UAE Nationals, in case all the conditions are available and the most important one is that the enterprise has an additional value and will convey a technology to the local market", added Al Nowais.

"On the other hand, and during 2012 a new insurance program for the loans started in cooperation with Abu Dhabi Commercial Bank, which all projects under Zeyada program were benefited from", Al Nowais explained.

He added the Khalifa Fund started a new method of payment last year, where the Fund gave a credit cards for the owner of micro-finance projects to disburse their loans in an easier way.

"The directions of our wise government are our source to put 2012 plan which include participation in the growth of small and medium size enterprises sector that plays a vital role in the economic sustainability from one side and to support the governmental efforts of increasing the social growth from the other side. Therefore, our efforts were divided between supporting the entrepreneurs to establish their own businesses in different segments by empowering Khalifa Fund's development programs which have social impact and targeting to improve the social level, like Sougha Programme which achieved lots of success in a short period of time", said Al Nowais.

He noted the Fund will continue its effort to develop its services and to introduce new and innovative initiatives in order to prepare and empower a good business environment for the entrepreneurs and the owner of small and medium sized enterprises and to support them to achieve their positive role in supporting the economy of Abu Dhabi in particular and the national economy in general.

Al Nowais said the Fund was able to strength the culture of training and technical preparation between the UAE nationals by providing many specialised training programs which reached 182 training session for more than 4000 emiratis from both genders from all over the country.


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