Khalifa Fund for Enterprise Development offers new financial package for entrepreneurs
ABU DHABI (WAM) The Khalifa Fund for Enterprise Development (KFED) announced the continuation of its existing funding programmes by offering new financial package to support Emirati entrepreneurs with both emerging and established projects in Abu Dhabi's priority sectors.KFED continues to accept applications for medium and long-term loans designed to fulfil the requirements of innovative business ventures.The funding programmes include the Startup Funding Programme and the Scale-up Funding Programme for existing projects, aimed at enhancing the concept of innovation, improving competitiveness, and enabling sustainable success with transparency.These programmes also aim to strengthen the growth of the small and medium-sized enterprises (SMEs) ecosystem in priority sectors, including healthcare, education, agricultural technology, information technology, communications, tourism, industry, and innovative projects.The Startup Funding Programme offers a loan that covers 80 percent of the total project establishment costs, with easy terms and a repayment period of up to 84 months and a grace period of up to 24 months.The Scale-up Funding Programme for existing projects also offers a loan to support successful and stable SMEs whose owners wish to develop and expand them. The financial support provided by the loan covers up to 80 percent of the total expansion costs.Mouza Obaid Al Nasri, Acting CEO of KFED, said, 'We are committed to empowering entrepreneurship within the community and contributing to the establishment of a more diverse and sustainable economic model. Through this move, we seek to design financial solutions that broaden our support for projects, especially SMEs, which serve as a key pillar for establishing a sustainable economic model and a primary driver for attracting investments and boosting the competitiveness of the national economy.'The Funding programmes serve as an effective tool for supporting startups and empowering entrepreneurship. They play a vital role in driving the growth and sustainability of the national economy, as well as diversifying its sources, while also creating more job opportunities. They offer many facilities and support tools, including long-term, easy-to-manage loans, enabling borrowers to manage their financial commitments smoothly.
In 2024, the fund delivered entrepreneurship training courses to 5,658 participants and group consulting sessions to 613 individuals to offer integrated support and expertise to business owners, paving the way to transform ambitious concepts into successful projects.
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