The Sheikh Khalifa Fund for Small and Medium Scale Enterprises has so far funded 46 ventures worth AED 47.2 million, its chairman disclosed on Sunday.
Hussein Al Nowais stated that the fund, which was set up in June 2007, has received more than 2000 applications for financing new enterprises and expansion of existing units in Abu Dhabi, Al Ain and Western Region.
''The Fund is conducting in-depth studies to assess the feasibility of proposed projects in order to guarantee their success,'' he added.
The financing, he explained, were offered to projects in the industrial, services and agricultural sectors. However, he noted, the services sector has accounted for 27 per cent (33 projects) of total financed enterprises. (WAM)
Hussein Al Nowais stated that the fund, which was set up in June 2007, has received more than 2000 applications for financing new enterprises and expansion of existing units in Abu Dhabi, Al Ain and Western Region.
''The Fund is conducting in-depth studies to assess the feasibility of proposed projects in order to guarantee their success,'' he added.
The financing, he explained, were offered to projects in the industrial, services and agricultural sectors. However, he noted, the services sector has accounted for 27 per cent (33 projects) of total financed enterprises. (WAM)
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