10-07-2025
RUWAD approves financing for 4 projects worth $422k
SHARJAH: The Project Financing Committee of the Sharjah Foundation for Supporting Entrepreneurial Projects (RUWAD) approved during its 35th meeting four projects at a total of AED 1,550,000. The meeting was led by Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department.
The committee decided to directly fund two of these projects through the RUWAD programme. One project is a new commercial venture located in the Al Saja'a area (AED 200,000), while the other is a vocational initiative in Dibba Al Hisn (AED 200,000).
Additionally, the committee approved extra funding of AED 450,000 for one project in the industrial sector, amounting to a specific sum, which will also be provided through direct financing. They also agreed to support another technical project with funding (AED 700,00) through the bank, which will be done indirectly.
So far this year, the committee has approved a total of nine projects, including some that are getting extra funding. The overall amount of money approved for these projects comes to AED 2,670,000.
The committee members talked about several ideas to improve the support and funding for various projects. One suggestion was to combine technical evaluations with legal advice to help ensure better decision-making. They also discussed ways to make it easier for projects to get started and find the right suppliers for their different needs, especially in areas like monitoring, design, decoration, and construction.
Additionally, they touched on other topics such as providing clear information about who really owns a project, protecting consumers, and understanding credit ratings.
