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Mohammed bin Zayed underscores the role played by the Khalifa Fund

posted on 16/06/2010: 741 views



General H.H. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces attended yesterday the annual function of the Khalifa Fund to Support and Develop Small '&' Medium Enterprises.

Sheikh Mohammed emphasised the Fund's vital role in the sustainable development in Abu Dhabi and affirmed Abu Dhabi Government's support to small and medium enterprises as a key enabler for growth and development.

"Abu Dhabi is witnessing a positive transformation in all sectors, coupled with a drive for diversifying resources away from oil. This requires a comprehensive strategy to support non-oil activities, including SMEs," he added.

During the ceremony, Sheikh Mohammed gave away prizes to the winners of the Fund's four-category Award for business leaders.

Present were Abdul Aziz Al Ghurair, Speaker of the Federal National Council, H.H. Sheikh Tahnoun bin Mohammed Al Nahyan, the Ruler's Representative in the Eastern Region, H.H. Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince's Court, Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Higher Education '&' Scientific Research, Sheikhs and senior officials.

Sheikh Mohammed toured the exhibition held on the event's sidelines which showcased the projects financed by the Fund. He was briefed on the products and services and the support given by the Fund.

Sheikh Mohammed said he was pleased with the diverse projects implemented under the Fund. He urged the aspiring young entrepreneurs to harness technology to grow their businesses and to target regional and international markets.

The Fund's Chairman Hussain Jassem Al Nowais announced the launch of Industrial Finance Programme which can provide project finance facilities of up to Dh10 million to industrial projects that are aligned with the Abu Dhabi Plan 2030.

He revealed that the Fund had, since its inception in 2007, administered project finance facilities to 219 projects at a total value of Dh391 million. – Emirates News Agency, WAM

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