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14 April 2024

Khalifa Fund signs $25m agreement to support Nigerien SMEs

By Wam

Hussain Jasim Al Nowais, Chairman of Khalifa Fund for Enterprise Development, and Saadou Sidou, Nigerien Minister of Trade and Private Sector Development, have signed a US$25 million (AED92 million) agreement aimed at providing support for micro, Small and Medium-sized Enterprises, SMEs, in Niger, where the amount will be distributed in equal instalments.

This came during a visit by Al Nowais to Niger, where he met with President Mahamadou Issoufou of Niger.

During the visit, the Nigerien President said that the agreement will positively impact his government’s sustainable development and economic diversification, which are vital to the country’s economic stability.

President Issoufou also extended his thanks and appreciation to His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for his keenness to support the cooperation between both countries.

On behalf of Sheikh Mohamed bin Zayed Al Nahyan, Al Nowais wished continued progress and prosperity for Niger and its people.

Sheikh Mohamed bin Zayed had assigned Khalifa Fund to establish a similar programmes to support entrepreneurship with an aim to develop SMEs in other parts of the world, including Niger.

Al Nowais stated that the agreement will help Niger in its economic development efforts towards promoting a culture of entrepreneurship and supporting SMEs. He stressed that the agreement will provide creative and innovative young people in Niger with an opportunity to use their skills and talents to improve their lives and contribute to the country’s economic growth.

He explained that Khalifa Fund has been successfully providing various forms of support to different countries under the directives and guidance of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and Sheikh Mohmed bin Zayed.

In turn, Sidou praised the UAE's support that has been providing to various segments of Niger’s society and the friendly relations between the two countries. He emphasized on the positive impact of such major agreements on his country’s development that lead to key projects and generate new jobs for Niger’s citizens, thereby helping achieve comprehensive growth for the country and reduce poverty.