"Sharjah to support pioneering projects " Reviews approved financing programs in 2026
Sharjah, March 10, 2018 (WAM): The Project Finance Committee of the Sharjah Foundation for Supporting Entrepreneurial Projects “Ruwad”, attached to the Sharjah Economic Development Department, held its forty-first meeting at the department’s headquarters, headed by His Excellency Hamad Ali Abdullah Al Mahmoud, Head of the Department, and in the presence of members of the committee, Fatima Hassan Al Ali, Director of the Foundation, Chairman of the Technical Committee for Project Finance, along with a number of officials.
During the meeting, the committee reviewed the approved financing balance for the year 2026 and the financing decisions issued through the direct financing program from the institution and the indirect financing program through banks.
The participants reviewed the list of projects that submitted funding requests, in addition to requests to reconsider previous decisions issued regarding a number of projects, and appropriate decisions were taken regarding them.
The committee decided to approve financing a project specialized in the sports sector with an indirect financing system through a bank at a value of 700 thousand dirhams, which reflects the Foundation’s orientation towards supporting specific projects with economic feasibility in vital sectors.
This brings the total number of projects that received financing approvals from the committee during the year 2026 until the end of last February to three projects, with a total financing value of 1.5 million dirhams.
The committee directed the preparation of an integrated vision for the evaluation matrix of projects submitted for financing with the aim of enhancing the accuracy of studying applications and establishing the principles of governance and transparency in the mechanisms for granting financing, stressing the continuation of work on developing financing policies and programs in a way that contributes to empowering citizen entrepreneurs, supporting the sustainability of their projects and enhancing their contribution to the development and competitiveness of the economy of the Emirate of Sharjah.
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