The Khalifa Fund for Enterprise Development, which was established in 2007, has achieved great success thanks to the great support it received from the late Sheikh Khalifa bin Zayed Al Nahyan, may God have mercy on him, which helped hundreds of Emirati citizens to establish successful small and medium enterprises over the past years thanks to the financial and technical support provided by the fund. The latest statistics available to the Khalifa Fund indicate that the fund contributed to creating 15,000 new jobs in the local market, and provided 1,168 active loans, with a cumulative total of about 1.32 billion dirhams, in addition to helping 152 projects to export to all parts of the world.
The fund was able to establish 6% of Emirati companies in the SME sector, in addition to achieving a total investment return of 15.5%.
During the Corona pandemic, the Fund provided great support to owners of small and medium enterprises, as it dropped and postponed loan installments for some project owners, and asked some real estate owners to reduce rents, as well as provide consultations and technical support to help project owners who faced difficulties during the crisis.
A decision was issued in 2011 to raise the capital of the Khalifa Fund for Enterprise Development from one billion to two billion dirhams, and to expand the scope of its services to include all emirates of the country.
Before the issuance of this award, the Khalifa Fund provided its financing and non-financing services to all citizens of the country through its headquarters in Abu Dhabi, in addition to its two branches in Al Ain and the Western Region, as these services were limited only to projects established in the Emirate of Abu Dhabi.
It is worth mentioning that the Khalifa Fund for Support and Development of Small and Medium Enterprises was established on the 3rd of June 2007 as an independent body that aims to nurture a generation of entrepreneurs and enhance the spirit of entrepreneurship among young citizens, in addition to developing competitive projects to be an engine of creativity, growth and economic stability, and contribute to promoting The competitiveness of the UAE economy, and the project began with the launch of the “step”, “bedayah” and “increase” programs, then micro-loans, industrial and agricultural loans were added, in addition to the fund’s non-financial operations that contribute to supporting small and medium enterprises through capacity building and workshops Training and empowerment initiatives, developing work plans, and support in the founding and operational stages of small and medium-sized companies.
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