Khalifa Fund For Enterprise Development Introduces Financial Package For Emirati Entrepreneurs

The Khalifa Fund for Enterprise Development (KFED) has unveiled a new financial initiative to aid Emirati entrepreneurs in Abu Dhabi's key sectors. This package continues KFED's existing funding programmes, which include medium and long-term loans tailored for innovative business ventures. These programmes aim to bolster innovation, competitiveness, and sustainable success while enhancing the small and medium-sized enterprises (SMEs) ecosystem.

KFED's funding initiatives encompass the Startup Funding Programme and the Scale-up Funding Programme. These are designed to support both new and existing projects by providing financial assistance that covers up to 80% of project costs. The Startup Funding Programme offers loans with easy terms, a repayment period of up to 84 months, and a grace period of up to 24 months.

The Scale-up Funding Programme targets successful SMEs looking to expand. It provides loans covering up to 80% of expansion costs. This financial backing is crucial for SMEs aiming to grow in sectors such as healthcare, education, agricultural technology, IT, communications, tourism, industry, and other innovative fields.

Mouza Obaid Al Nasri, Acting CEO of KFED, emphasised the fund's commitment to fostering entrepreneurship within the community. "We are committed to empowering entrepreneurship within the community and contributing to the establishment of a more diverse and sustainable economic model," she stated. The goal is to design financial solutions that extend support for projects, particularly SMEs.

These funding programmes are instrumental in supporting startups and promoting entrepreneurship. They contribute significantly to national economic growth by diversifying income sources and creating job opportunities. The programmes offer facilities like long-term loans with manageable terms, enabling borrowers to handle their financial obligations effectively.

Training and Consultation Initiatives

In 2024, KFED provided entrepreneurship training courses to 5,658 participants. Additionally, group consulting sessions were held for 613 individuals. These initiatives aim to deliver comprehensive support and expertise to business owners. By doing so, KFED helps transform ambitious ideas into successful ventures.

The fund's efforts are geared towards establishing a sustainable economic model that attracts investments and enhances national competitiveness. Through these initiatives, KFED plays a pivotal role in driving economic diversification while supporting the growth of SMEs across various sectors in Abu Dhabi.

With inputs from WAM