Khalifa Fund to finance 67 SMEs

The Sheikh Khalifa Fund for Support and Development of Small and Medium Enterprises has approved financing of 67 new small and medium enterprises (SMEs) at a cost of Dh111.12 million, bringing the number of projects financed by the fund since its inception in June last year to 205 projects with the cost of Dh340m in which 23 per cent of the projects are for women.

A breakdown shows that the fund financed 77 projects worth Dh 176m in the industrial sector, 14 agricultural projects valued at Dh 17.4m and 114 services projects in tune of Dh 146.6m.

Hussein Jassim Al Nowais, Board Chairman of the fund, said that in 2009 the fund was able to expand the scope of its services and diversify its activities to ensure achievement of the policy of the government to support SMEs."

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