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Khalifa Fund finances 240 
projects costing Dh415m

ABU DHABI — Hussain Jassem Al Nowais, Chairman of Khalifa Fund for Enterprises Development, has said that the fund had financed 60 projects during the year 2010 with a total value of Dh111 million.

The financed projects encompassed all economic sectors in Abu Dhabi keeping in view the investment feasibility and applicant’s commitment for getting the required finance. The number of projects which were financed by the fund since launching its service in the mid of 2007 reached to 240 projects with a total value of Dh415 million.

Since its establishment and till the end of 2010, the fund agreed to finance 42 projects according to Khutwa Programme and 149 projects according to Bedaya Programme, in addition to 46 projects according to Zeyada Programme, plus two project according to Tasnea Programme, and one project within Al Radda Program.

The fund statements indicate that Khalifa Fund agreed to finance 84 projects in the industrial sector of total value of Dh205 million. Also, the fund granted finance to 17 agricultural projects of total value of Dh26.2 million, and 139 service projects of total value of Dh183.8 million.

Al Nowais indicated that Khalifa Fund also launched many programmes and initiatives aimed at boosting the business leading spirit, creativity, innovation and supporting the small and medium projects sector for enabling them to assume their vital role in supporting and enhancing the development process in Abu Dhabi. In a statement, he said that last year ‘Tasnea’ was developed aimed at providing finance of Dh10 million for the industrial projects that are identical to the investment and development targets included in the plan of Abu Dhabi for the year 2030.

Khalifa Fund Gateway was also inaugurated for the owners of projects being financed by the fund. This portal provides them with the interface linking services for the fund’s members for enabling them to establish integrated relationships among them for enhancing the chances of their success and development, which is also considered as a platform for them for marketing their products and for taking advantage of the commercial opportunities.

In this respect, Al-Nowais indicated that the fund could instill deeply the culture of training and technical rehabilitation among the citizens by launching many of the specialised training programmes which reached 122 training courses benefited more than 1,850 citizens in Abu Dhabi, Al-Ain and the Western Province. Moreover, the year 2010 witnessed the launch of “Amal” Programme in cooperation with Zayed Supreme Organisation for Humanitarian welfare and for Taking Care of Special Needs, where the fund provided finance donation of Dh4 million for financing Aquaponic Project for the production of vegetables and fish which was launched by Zayed Organization. —

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