Khalifa Fund has introduced seven new funding products, which aim to boost the improvement and success of existing businesses in various sectors including Healthcare, education, agriculture, information communications technology, tourism, and manufacturing, promoting innovation and stability within the entrepreneurial ecosystem of Abu Dhabi.

The newly introduced funding products include Financing Business Operating Capital, providing necessary financial resources for the entrepreneurs to cover daily operations such as salaries, increment, inventory, overhead, and other financial duties, excluding rent, vehicles, and logistics in Financing Fixed Assets. Providing financing up to 80 percent for the assets in the company’s new logistics such as vehicles, boats, and logistic machinery including equipment and machinery, contributing financing up to 80 percent of Small and Medium-sized Enterprises’ new machines and equipment.

Apart from this, other funding products like Financing Invoices, which is a short-term working capital finance products that are designed to bridge working needs for capital, permit a company to get up to 80 percent of trade financing payments before they are under the terms and conditions. Financing Advance Payment Guarantee ( APG )work as a contract agreed to fulfil the contractual terms and conditions through a performance guarantee bond. Every entrepreneur can fix financing for 70 percent of the APG through this product. Financing E-commerce Inventory is a digital retail funding product that authorises E-commerce enterprises by offering sudden financial help by holding 80 percent of the prepared goods. It supports entrepreneurs in providing an efficient inventory at a high level during the peak seasons and Financing Agri-tech, challenging financing solutions that make possible acquisition of advanced technology solutions to encourage innovation, growth in the agricultural industry, and stability.

Alia Al Mazrouei, CEO of Khalifa Fund for Enterprise Development, said: “The introduction of these new funding products represents a significant milestone for Khalifa Fund. We are extending our legacy as the biggest enterprise development entity in the region and reiterating our commitment to supporting businesses across high-level and priority sector industries. By further boosting Abu Dhabi’s entrepreneurial ecosystem, we aim to cement the emirate’s position as a thriving hotspot for innovation and entrepreneurship.”   

Khalifa Funds agrees to continue its agreement to stimulate economic growth, increase employment opportunities and provide a wide entrepreneur landscape in the UAE. 

Entrepreneurs can apply to any of the new funding products by applying to the Abu Dhabi Government Services platform, TAMM. 

For further information, do visit http://www.tamm.abudhabi/en/abu-dhabi-government-entities/khalifafundforenterprisedevelopment. 

Khalifa Fund for Enterprise Development 

This Khalifa Fund is an independent and not-for-any money-gaining economic development agency of the Government of Abu Dhabi that aims to develop and support small-to-medium enterprises ( SMEs ). It was established in 2007, under the law of 14 of 2005 and its amendments, in the execution of the vision of the late Sheikh Khalifa Bin Zayed Al Nahyan. 

The major help of the fund is to develop local enterprises in Abu Dhabi by infusing and enhancing culture between UAE nationals. 

The fund also looks to support and develop SMEs in the Emirate. 

It was started with a total capital of AED 300 million, which was raised in 2008 to AED 1 billion, to connect the increasing demand for the Fund’s services. 

In 2011, it was increased to AED 2 billion, and it covered all of the UAE all over the network branches.