Sharjah's Ruwad approves funding for 4 new projects
SHARJAH - The Project Funding Committee of the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad) has approved funding for four new small businesses with a total value of AED720,000.
These approvals were based on the 32nd and 33rd meetings of the committee, held in January and March 2025, respectively. The meetings were chaired by Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department, with the participation of committee members Saeed Ghanem Al Suwaidi, Faisal Jassim Al Madfa, Fahad Al Khameri, Dr. Mudathir Abdullah, and Nora Al Zarooni.
Also present were members of the technical project funding committee, including Nasser Abdullah Al Owais, Deputy Head of Project Study and Analysis; Rashid Sawaked, Project Development Consultant; and Hamda Khater, Head of the Financing Division at Ruwad.
During these meetings, the committee reviewed new funding requests and approved financing for four entrepreneurial projects through the direct financing system. These projects span various sectors, including food businesses, beauty centres, cryotherapy, and entertainment services.
Of the approved projects, two are owned by female entrepreneurs, while the other two are jointly owned by both men and women.
Additionally, in its January meeting, the committee reviewed a report on funded projects in 2024, which totaled 13 projects that received financial approval. All approvals were granted through direct financing by the foundation, with total funding reaching AED2.86 million.
Sharjah city accounted for 64% of the funded projects, with nine projects, while four projects (29%) were funded in the Eastern Region, and one project was supported in the Central Region. The distribution by gender showed that 10 projects were owned by male entrepreneurs, while 4 projects were led by female entrepreneurs.
As part of its agenda, the committee also reviewed the foundation's accounts and financial budget, in addition to discussing several development proposals and making the necessary decisions regarding their implementation.
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