UAE In-Focus – Entrepreneurship fund Ruwad increases direct financing pot by over 100%   

UAE In-Focus – Entrepreneurship fund Ruwad increases direct financing pot by over 100%   

RIYADH: In order to enable entrepreneurs to take advantage of available opportunities and expand their projects, the Sharjah Foundation for Supporting Entrepreneurship has raised the value of funding to pilot projects from 2.5 million dirhams ($680,676) in 2022 to 6 million dirhams for the current year.

This decision to raise the ceiling of direct financing by over 100 percent aligns with the objectives of the foundation, also known as Ruwad, in supporting the citizens of the emirate to enhance their contribution to the national economy.

The increase was approved during a meeting of the foundation’s Project Finance Committee.

Designed to help young participants hone their skills in managing agriculture and livestock projects, the UAE’s Ministry of Climate Change and the Environment has launched a Food and Agriculture Entrepreneurs Program.

Set to be implemented from 2023 to 2025, the program forms part of the “Transformational Projects” initiative of the Council of Ministers. It offers an integrated system that enables its target audience to establish their own companies in the UAE agriculture sector.

“The Ministry of Climate Change and Environment is working to empower and encourage youth to play an active role in advancing the agriculture and livestock sectors, and to achieve national food security,” Minister of