Khalifa Fund signs a MoU with Zambia to support enterprise development with AED 55mln

Khalifa Fund signs a MoU with Zambia to support enterprise development with AED 55mln

Abu Dhabi, United Arab Emirates: the Khalifa Fund for Enterprise Development has signed a Memorandum of Understanding with the Ministry of Small and Medium Enterprise Development, Zambia. As per the MoU, Khalifa Fund will provide 15 million USD (equivalent to 55 million AED) to the African nation to support their SME sector. The MoU was signed in the presence of H.E. Sheikh Shakhboot bin Nahyan, Minister of State of the Ministry of Foreign Affairs and International Cooperation, by HE Alia Abdulla Al Mazrouei, CEO of Khalifa Fund, and Hon. Stanley K. Kakubo, Minister of Foreign Affairs and International Cooperation for Zambia, to promote a culture of entrepreneurism, create new enterprises and jobs, and empower local youth and women for an economically robust Zambia.

The MoU will fund a variety of sustainable projects and contribute to the creation of jobs for the youth and women in Zambia.

HE Alia Abdulla Al Mazrouei said: “This MoU signifies the exceptional ties between the UAE and Zambia, through Khalifa Fund’s efforts in boosting a culture of entrepreneurism and is encouraging disruptive and innovative startups and SMEs to scale faster in Zambia. Through this, we aim to empower young people and women by providing the right opportunities