Ahmad Belhoul announces AED 1bn Emirates Growth Fund

Sharjah 24: His Excellency Dr Ahmad Belhoul Al Falasi, Minister of Sports and Chairman of the Emirates Growth Fund, has announced the official launch of the Emirates Growth Fund with a capital of AED 1 billion. The fund, established by the Emirates Development Bank, was unveiled during Dr Al Falasi’s participation in the “Make it in the Emirates” Forum. Its purpose is to address the financing challenges faced by small and medium-sized enterprises (SMEs) in the UAE.

Addressing the ‘missing middle’ in SME finance

Speaking exclusively to Sharjah 24, Dr Al Falasi explained that the fund was designed specifically to fill the financing gap known as the “missing middle.” This refers to a critical stage at which SMEs are seeking capital to grow but are not yet able to meet the investment criteria typically set by traditional investors.

Dr Al Falasi highlighted that recent studies estimate this financing gap at AED 7 billion. Despite their importance, many SMEs fall short of accessing adequate capital. He stressed that SMEs account for 94% of the businesses operating in the country, employ more than 60% of the private-sector workforce, and contribute 60% of the UAE’s non-oil GDP. Yet, their share of total financing is currently only 10%.

Strategic backing for industrial growth

Dr Al Falasi further explained that the Emirates Growth Fund aims to support companies generating annual revenues of AED 10 million or more and in need of financial boosts and strategic investments to scale their operations. This initiative is a key part of broader national strategies such as the “300bn Project” and the “Make it in the Emirates” campaign. Both efforts seek to reinforce the sustainability and global competitiveness of the UAE’s industrial sector by empowering SMEs to grow and thrive.