"Pioneers" Sharjah approves financing for 3 new projects worth one million and 577 thousand dirhams
Sharjah, 27 July / WAM / The Project Finance Committee of the Sharjah Foundation for Supporting Entrepreneurial Projects “Ruwad”, which is attached to the Sharjah Economic Development Department, approved the financing of 3 new pioneering projects with a total financing value of one million and 577 thousand dirhams.
An industrial project worth 400,000 dirhams was approved to be financed through the direct financing program from the corporation, while a project in the professional sector specializing in issuing quality certificates, evaluation, standards, and standardization received a value of 177,000 dirhams through the asset financing system through the direct financing program as well, while a third joint project between 5 entrepreneurs in the hospitality activity obtained financing worth one million dirhams through the indirect financing program from the bank.
This came during the third meeting of the current year, which the committee held today at the headquarters of the Department of Economic Development in Sharjah, headed by His Excellency Hamad Ali Abdullah Al Mahmoud, Head of the Department, and in the presence of committee members, Fatima Hassan Al Ali, Head of the Technical Committee for Project Financing, along with a number of officials.
The Project Finance Committee reviewed the status of the approved financing balance for projects for the year 2026 and a summary of the financing decisions issued through the direct financing programs from the institution and indirect financing through banks.
Hamda Mohammed Al Hammadi, member of the Technical Committee, gave a detailed presentation on the list of projects that submitted funding requests and requests to reconsider previous decisions issued regarding a group of projects, where these requests were discussed and the necessary decisions were taken regarding them.
This brings the total number of projects that received financing approvals from the committee during the year 2026 until the end of this July to 7 projects, with a total financing value of 3 million and 211 thousand dirhams.
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