Ruwad approves funding for three new Sharjah projects

October 19, 2025 / 1:17 PM

Sharjah 24: The Sharjah Entrepreneurship Foundation, "Ruwad," affiliated with the Sharjah Economic Development Department, has approved funding for three projects in the emirate, totalling AED 1.8 million.

38th Project Financing Committee meeting

This was announced during the 38th meeting of the Foundation’s Project Financing Committee, chaired by His Excellency Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department. The meeting took place at the department’s headquarters with committee members Saeed Al Suwaidi, Faisal Al Madfa, Dr. Mudathir Abdullah, and Noora Al Zarooni, alongside Fatima Al Ali, Acting Director of the Foundation and Chair of the Technical Committee for Project Financing, and members Rashid Suwaqid, Project Development Advisor, and Hamda Al Hammadi, Deputy Head of Project Study and Analysis.

Details of approved projects

The agenda included reviewing project funding applications. The committee approved direct funding of AED 400,000 for a professional project in Kalba, and AED 400,000 for an industrial project in Sharjah under the direct funding scheme supporting the industrial sector. Another industrial project was approved for AED 1 million through indirect financing via a bank.

Cumulative funding in 2025

By mid-October, the total number of projects approved by the Project Financing Committee in 2025 reached 19, with total funding of AED 5.66 million.

Ruwwad’s commitment to entrepreneurship

His Excellency Hamad Ali Abdullah Al Mahmoud highlighted that the new approvals reflect Ruwwad’s commitment to empowering Emirati entrepreneurs and enhancing their role in supporting comprehensive economic development in the emirate by providing suitable financial solutions that sustain and expand their projects locally and internationally.

Ongoing evaluation and support

He added that the committee continues to evaluate funding applications using strict criteria to direct resources toward economically viable projects, boosting Sharjah’s business competitiveness and supporting the emirate’s goals of nurturing entrepreneurship and creating growth opportunities for national projects.

Review of 2025 funding

The meeting also reviewed the 2025 funding balance and funding decisions made so far this year.