The Project Financing Committee of the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad) convened its 29th meeting, chaired by Hamad Ali Abdullah Al Mahmoud, Chairman of the Committee and Chairman of the Sharjah Economic Development Department (SEDD).

The meeting, attended by committee members, focused on recent funding trends and Ruwad’s ongoing efforts to bolster entrepreneurship in Sharjah.

Al Mahmoud underscored the committee’s pivotal role in developing the entrepreneurial landscape in the Emirate. He commended the committee’s efforts to provide essential funding and technical guidance to entrepreneurs, thereby enhancing the prospects of success for small and medium enterprises.

Through its initiatives, the committee fosters a conducive environment for growth and innovation, empowering entrepreneurs to expand their operations and contribute to the local economy.

The committee remains dedicated to supporting promising projects across various sectors, thereby promoting economic diversific
ation and opening up new avenues for growth.

The meeting highlighted that the financing ceiling for the first half of 2024 reached AED3 million. A total of AED1.56 million was allocated to six projects financed by the end of May, leaving a remaining balance of AED1.44 million for funding.

Furthermore, the committee reviewed the progress of four newly financed projects and examined financing requests for nine additional projects in diverse fields such as commerce, sports, food, hospitality, and others.

Members discussed the necessary assessments and recommendations to support projects, ensuring their sustainability and achievement of pioneering objectives.

Source: Emirates News Agency