x Abu Dhabi, UAEWednesday 26 July 2017

Khalifa Fund provides Dh53m in seed money

The Khalifa Fund for Enterprise Development provided 149 projects with total funding of Dh53.3 million (US$14.5m) last year, its chairman said.

The Khalifa Fund for Enterprise Development provided 149 projects with total funding of Dh53.3 million (US$14.5m) last year, its chairman said.

Hussain Jassim Al Nowais said that in 2012 "the fund's performance came in line with its pre-planned strategic plans", Wam reported yesterday.

"The number of funded projects increased since the launching of Khalifa Fund's services in 2007 to 460 projects with a total amount of Dh758m which was distributed all over the United Arab Emirates, as the benefited projects from the fund's services are distributed in all the emirates", added Mr Al Nowais.

Since inception and up to the end of last year, it has approved Dh300m of funding for 122 projects in the industrial sector; 41 projects in the agriculture sector with a total of Dh41.1m; 207 projects in the services sector with a total of Dh276.7m; and 105 projects in the commercial sector with a total of Dh137.7m.

* Wam