Khalifa Fund awards nearly 30% of $14m funding to women

  • Share via facebook
  • Tweet this
  • Bookmark and Share
(AFP/Getty Images)

(AFP/Getty Images)

Nearly 30 percent of 69 projects awarded AED51m ($14m) funding by the Khalifa Fund for Enterprise Development in the first quarter of 2013 were managed by female entrepreneurs, the fund’s CEO has revealed.

“Females occupied 28.3 percent of the projects financed by the Khalifa Fund, which is considered a good indicator of female engagement in the business sector, enhancing the role of women in the economic development of the UAE,” said HE Abdullah Saeed Al Darmaki, CEO of the fund.

The fund was set up in 2007 with a total capital investment of AED2bn to help develop local businesses, promote innovation and creativity and encourage entrepreneurs from the region to start their own companies.

“Since its establishment till the end of the first quarter of 2013 the fund approved finances for 82 projects under the Khutwa Programme, 295 projects under Bedaya Programme and 117 projects under Zeyada Programme,” Al Darmaki said.

“This is in addition to ten projects under Tasneea Programme and 30 projects through the microfinance programme which has a social frame to support the Emiratis who have home-based business and need small capital,” he added.

A total of 69 projects were awarded AED51m ($14m) in the first quarter, bringing the total awarded since 2007 to AED856m ($233m) and 541 projects.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
End of Gaza war doesn't translate into peace

End of Gaza war doesn't translate into peace

A week after the guns fell silent in the Gaza war, Israel and...

Is this the end of the Gulf’s Indian cash dash?

Is this the end of the Gulf’s Indian cash dash?

From currency woes to taxation loopholes closing and a clampdown...

2
Q&A with Dubai Chamber

Q&A with Dubai Chamber

We spoke with Essa Al Zaabi of Dubai Chamber of Commerce to find...

Most Discussed