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The US Ambassador is pleasured with Khalifa Fund’s efforts in spreading the culture of entrepreneurship in the country

United Arab Emirates: Thursday, January 31 - 2013 @ 14:23

“The Fund is one of several ways and different tools our wise leadership presenting by H. H. Sheikh Khalifa Bin Zayed Al Nahyan the Ruler of the United Arab Emirates – May God protect him – and his Crown Prince in empowering the Emiratis and to increase their life standards and improve their life style”, stated H. E. Al Nowais in the meeting heading by him and being presented by H. E. Abdullah Saeed Al Darmaki the Chief Executive Officer of Khalifa Fund and other executive members.

“The Ruler of the UAE’s grant was in circulating the Fund’s services to the whole emirates to empower the youths outside Abu Dhabi to benefit from the development outcome of Khalifa Fund which started 6 years back, in order to allow them to achieve lots of achievements were the most important was to spread the culture of entrepreneurship between the youths and to teach them the importance of innovation which will enable them to contribute in building the good environment for the development of small and medium sized enterprises”, said Al Nowais.

“The Fund and during a short period of time was able to create good balance between the financial, technical and training needs for the entrepreneurs which enable them to start a successful promising projects,” added Al Nowais while presenting some of the success stories to the meeting.

In Addition to that, H. E. Abdullah Saeed Al Darmaki the Chief Executive Officer of Khalifa Fund for Enterprise Development and the Fund’s team gave a presentation about the Fund’s goals.

“Khalifa Fund is providing many programs which serve the needs and demands of the entrepreneurs during their effort to start or expand their investment businesses; which include training, development, technical rehabilitation, providing them with data & counseling services in addition to improving lots of marketing initiatives,” said Al Darmaki.

The Fund provides various financial solutions with low profit margin for the profitable projects which serve the national economy through the (Khutwa, Bedaya, Zeyada & Tasneea) programs to cover the small and medium sized enterprises.

“The Fund puts lots of effort in the social development sector by different initiatives which add social impact to the Fund’s financial programs like (Khutwa Program) which provides support for special segment of the society such as the widows, divorced, handicrafts and the one with poor educational level.

In addition to, “Al Radda Program” which is designed for rehabilitation of the inmates and to integrate them into society in order to reduce their chances to commit a crime which affect the social security of the country. Also, we have “Sougha Program” which aims to revive the heritage and to enable the talented artisans to transform their talents into ongoing income. And finally “Amal Program” which is designed for the people with special needs”, explained Al Darmaki.

Mr. Al Darmaki took the US Ambassador in a tour between the permanent exhibitions of Sougha’s products in the Fund, where he listened to explanation about the handicrafts products and how the Fund trained the artisans and developed their skills in order to produce and market their products, where all the benefits went back to the artisans.

H. E. Michel H. Koren the US Ambassador praised the efforts given by Khalifa Fund for Enterprise Development in spreading the culture of entrepreneurship and to encourage the innovation and creativity.

“The Fund contributes in very influential way in changing the way of thinking among a wide range of Emiratis youths who were able eventually to establish impressive innovative businesses. The Fund’s experience worth being copied in other region countries which aiming for increasing the development rates”, said H. E. Koren.

The Ambassador was also impressed with designing the social initiative in investment way such as Soughawhich is a great example for that, where the target was achieved in keeping the traditional handicrafts and in the same time improving the income of less fortunate families.
On the other hand, the Ambassador express the readability of the American mission in Abu Dhabi to cooperate with Khalifa Fund to increase the training chances for the Emiratis in entrepreneurship sector by designing programs and arrange scholarship in this field.

Khalifa Fund for Enterprise Development had been established in 2007 with a mission of filling the gap of financing the small and medium sized projects, as it launched five social programs in an investment way which make them unique programs in the region.

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Thursday, January 31- 2013 @ 14:23 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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