Khalifa Fund
Khalifa Fund, a corporate body with full financial and administrative independence, has been established to support and develop small & medium enterprises in Abu Dhabi. The objective of this initiative is to support and assist UAE citizens, particularly in Abu Dhabi, to enter into private businesses, thus fulfilling socio-economic goals for a more competitive and sustainable economy.
The development of SMEs in Abu Dhabi will bring benefits to the following groups of nationals:
*Fresh graduates who wants to venture into business on their own or with their peers
*Young Abu Dhabi nationals with ideas and the desire to start their own business
*Mid-career change nationals
*Women who wish to venture in to home-based small businesses
*Displaced nationals due to restructuring of their organizations.
*Retired military or uniformed personnel
Abu Dhabi strives to have a competitive private sector-driven economy through the mobilization of domestic resources and raising the level of business activities to eventually cross international borders. The creation of the Khalifa Fund is a key strategic move to support this aim by enhancing the potential of national entrepreneurs. The aims and objectives of the Khalifa Fund are to ensure that national entrepreneurs are given every opportunity to start their own businesses and contribute towards the economy.
To ensure the success of such a goal the following key principles and criteria apply:
*Applicants must be nationals from Abu Dhabi – the Khalifa Fund scheme may be opened to other Emirates subsequentlyApplicants must be directly and actively involved in running/ managing the business
*The scheme is targeted at new start-ups as well as existing businesses that require loan-financing to expand and grow
*Transfer of existing commercial loans to Khalifa Fund is not permitted
*Applicants must undergo an interview and profiling test prior to acceptance of application
*The Khalifa Fund is not obliged to approve all loan applications; terms, conditions and other requirements of the Khalifa Fund must be met
For more information check out http://www.khalifafund.gov.ae
Email: info@khalifafund.gov.ae
Website: http://www.khalifafund.gov.ae
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