Sharjah 24: The Project Financing Committee of the Sharjah Entrepreneurship Foundation (Ruwad), affiliated to Sharjah Economic Development Department (SEDD) held its 2021 second meeting.

Headed by Hamad Ali Al Mahmoud, Director of the Ruwad Foundation, the meeting tackled a series of topics and themes aimed at enhancing the Foundation's efforts to support and finance small and medium-sized enterprises in the Emirate of Sharjah.

The meeting was attended by members Fahd Al-Khamiri, Dr. Muddathir Abdullah, Saeed Ghanem Al-Suwaidi, Faisal Jassem Al-Madfa, and Nora Al-Zarouni. Members of the technical committee who attended the meeting included Fatima Hassan Al Ali, Chairman of the Committee and Director of Project Support and Financing, and members of the Committee Hamda Mohammed Al-Hammadi, Senior Finance Administrator, and Nasser Abdullah Al Owais, Senior Financial Analyst.

The Project Financing Committee was formed last May by a decision of Sultan Abdullah bin Hadda Al Suwaidi, Chairman of the SEDD. The Committee tackles a number of tasks and responsibilities, including approving priority sectors and activities for financing, laying the foundations for developing financing programmes, proposing the annual financing ceiling for projects, and making recommendations for endorsing projects submitted by entrepreneurs wishing to obtain financing.

Participants also discussed updating the targeted sectors and activities, which will be given priority during the coming period. A list of these sectors and activities was presented, namely the food security sector, agriculture, sustainability in energy and water, activities in the field of health, medicine and medical supplies, technology and artificial intelligence activities, education and design activities, the industrial sector, and franchise food projects.

The agenda of the meeting included a set of ideas and proposals to enhance the benefits provided by government agencies in Sharjah for the benefit of Emirati entrepreneurs, especially with regard to fees for providing services, as well as ways to strengthen cooperation with financial and banking institutions and economic institutions associated with supporting industrial sector projects, as well as ways to support small and medium enterprises.