Sharjah24: Hamad Ali Abdullah Al Mahmoud, Chairman of Sharjah Economic Development Department (SEDD) chaired the 30th meeting of the Project Financing Committee of the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad)." During this session, the committee approved new financing requests from three entrepreneurial projects, amounting to a total of AED 550,000 through the direct financing program.
The meeting, held at the main headquarters of the Sharjah Economic Development Department, brought together several committee members. The session was also attended by the technical financing committee, led by Fatima Hassan Al Ali, Head of the Committee and Director of Project Support and Financing, along with other officials.
The meeting agenda covered several key topics, including the 2024 funding budget, advancements in financing small and medium national projects in Sharjah, monitoring the status of funded projects, and evaluating new financing requests to ensure informed decision-making.
Hamda Al Hammadi presented the remaining project financing budget as of the end of September, highlighting that around AED 2 million was designated for eight projects in the first nine months of the year.
The committee reviewed the progress of eight ongoing projects, including funding disbursement updates and performance monitoring. Additionally, they evaluated eight new funding applications, making decisions based on different criteria.
The committee has approved funding for three projects under the direct financing program, amounting to a total of AED 550,000, following their discussions. Two projects are set to launch in Sharjah City, alongside one in Khorfakkan, focussing on the hospitality, dining, and technical services sectors.
The committee also authorised funding of AED 100,000 for a designated project and wrapped up the meeting by reviewing various developmental proposals aimed at bolstering funded initiatives and improving marketing for members’ offerings.
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