The USD 25 million agreement is aimed towards providing support for micro, small- and medium-sized enterprises in the Republic of Mali.
According to the agreement signed by Hussain Jasim Al Nowais, Chairman of Khalifa Fund for Enterprise Development and Dr. Boubou Cisse, Minister of Economy and Finance in Mali, the amount will be distributed in equal instalments over the next five years.
The Khalifa Fund for Enterprise Development, which was established in 2007 in Abu Dhabi, has become one of the leading institutions aimed at instilling a culture of entrepreneurship and supporting SMEs in the UAE. The fund has financed more than 1,400 projects within the country. Its successful experience has been transferred to Egypt, Chechnya, Jordan and the Republic of Belarus through pioneering financing programs directed towards strengthening government efforts in these countries to achieve sustainable development and build a diversified and stable economy.