Sheikh Khalifa Fund to support 67 new S&M enterprises

FundsIn a significant push to the small and medium scale industry, 67 new small and medium scale enterprises would be provided financial dose under the Seikh Khalifa Fund introduced in June last year.

The new financial help worth AED 111.12 million would bring the total number of projects financed by the fund since its inception to 205. It includes 23 per cent projects for women enterprises across agriculture, industrial and service projects.

Hussein Jassim Al Nowais, Board Chairman of the Sheikh Khalifa Fund said that the fund achieved its objective to expand and diversify the scope of small and medium scale industry in line with the policy of government of Abu Dhabi.

Necessary changes have been made in the law governing the Khalifa Fund for turning it more constructive and productive for the economy of Emirates of Abu Dhabi according to the vision of HH Sheikh Khalifa bin Zayed Al Nahyan, Ruler of Abu Dhabi and the President of the United Arab Emirates.

The fund supported 35 Khutwa projects, 144 Bedaya projects and 26 Zevada projects since its inception in June 2007.