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Thu 2 Jan 2020 08:35 PM

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UAE fund to allocate $200m to support Pakistani SMEs

Abu Dhabi crown prince directs the Khalifa Fund for Enterprise Development to allocate money for SMEs in Pakistan

UAE fund to allocate $200m to support Pakistani SMEs

Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has directed the Khalifa Fund for Enterprise Development to allocate $200 million to support small and medium-sized enterprises (SMEs) in Pakistan.

The initiative aims to encourage innovation in projects and support entrepreneurship, to assist the Pakistani government’s efforts to create a stable and balanced national economy that will help achieve the country’s sustainable development, state news agency WAM reported on Thursday.

It added that it is also part of close ties between the UAE and Pakistan and the keenness of their leaderships to strengthen and develop them.

The initiative, which was launched on the sidelines of his visit to Pakistan, aims to support economic projects in Pakistan.

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