Sharjah24: Sharjah Foundation to Support Pioneering Entrepreneurs (RUWAD) of the Sharjah Economic Development Department, announced the registration of 214 new projects in the membership of the Foundation during the year 2021, Sharjah acquired 67% of the new projects, while the rest of the projects were distributed by 21% in the eastern region, and 12 % for the central region.
The value of financing approvals during 2021 amounted to more than 2.6 million dirhams for 6 new projects, with 1.2 million dirhams direct financing from the institution and 1.4 million dirhams indirect financing through banking facilities.
The Foundation explained that the total number of projects that received support, whether through financing or membership, since the establishment of the Foundation has risen to 957 projects, while the total value of financing payments from 2005 to the end of 2021 amounted to 32 million dirhams, including 13.4 million dirhams through the direct financing programme from Ruwad Foundation accepted and 18.6 million dirhams through indirect financing through banking facilities.
The commercial sector projects accounted for the largest share of them, with 623 projects representing 65% of the total supported projects, while the professional sector projects recorded 314 projects at a rate of 33%, and the industrial sector projects amounted to 20 projects at a rate of 2%.
This came in the results of the annual report for the year 2021 issued by the “Ruwad” Foundation, where the report indicated that the Foundation achieved positive results during the past year, despite the repercussions imposed by the global pandemic on the global economic scene, and the Foundation also succeeded in playing a major role in supporting the recovery efforts of the sector Small and medium enterprises in the Emirate of Sharjah and enabling it to restore its activity and growth, by adopting an integrated package of facilities and incentives that contributed significantly to supporting the business continuity of projects and mitigating the impact of the repercussions imposed by the pandemic.
The report indicated that during the year 2021, the new projects joining the membership of the Foundation registered 214 projects, and the city of Sharjah acquired 67% of the new projects, while the rest of the projects were distributed by 21% in the eastern region, and 12% in the central region. The value of financing approvals during 2021 amounted to more than 2.6 million dirhams for 6 new projects, with 1.2 million dirhams direct financing from the institution and 1.4 million dirhams indirect financing through banking facilities.
His Excellency Sultan Abdullah bin Hadda Al Suwaidi, Sharjah Economic Development Department, said: “There is no doubt that the past year constituted a watershed in the country’s economic development process, as the year 2021 represented the fiftieth year in which the state celebrated its golden jubilee and fifty years ago of qualitative and exceptional achievements as it launched The state, during which it has its ambitious vision for the next fifty years, which seeks to place the UAE among the best countries in the world in all aspects of development.
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