Complex Made Simple

Egyptian delegations praise Khalifa Fund’s experience in the field of entrepreneurs

Al Nowais confirms the Fund’s willingness to exchange experiences

H.E. Dr. Sahar Nasr, the Egyptian Minister of International Cooperation and H.E. Hussain Jassim Al Nowais, Chairman of Khalifa Fund for Enterprise Development discussed today at the headquarters of the Khalifa Fund in Abu Dhabi the possibility for exchanging expertise and experiences in the field of enhancing of small and medium enterprises.


“This visit comes within the framework of the permanent and continuous coordination between UAE & Egypt to enhance the joint cooperation. Khalifa Fund introduced in 2013 a development loan for Egyptian Social Fund worth $ 200 million for the development of micro-enterprises in Egypt, and to contribute to the Egyptian government efforts in enhancing the performance of the local economy”, said H.E Dr. Sahar Nasr.


“Khalifa Fund for Enterprise Development has extensive experience in the field of spreading the culture of entrepreneurship and promoting for innovation and creativity among youths. It is considered one of the most successful government organization in enhancing the role of SMEs sector to achieve a positive impact on the performance of the national economy”, said H.E. Hussain Al Nowais.


During the meeting which was attended by H. E. Ambassador Wael Gad, Ambassador of the Arab Republic of Egypt to the United Arab Emirates, H.E. Abdullah Al Darmaki CEO of Khalifa Fund and a number of delegates from both sides. Al Nowais emphasized on the Fund’s readiness to cooperate with the Egyptian authorities to exchange expertise and experiences for the benefit of both countries. The cooperation launched in 2013 where an agreement was signed by Khalifa Fund and the Egyptian Social Development Fund to grant a loan to finance micro-enterprises في مصر. in Egypt.


Mouza Obaid Al Naseri the Director of Entrepreneurship Development Department in Khalifa Fund made a presentation about Khalifa Fund and its services. “Khalifa Fund provides integrated and comprehensive programs that meet the needs and requirements of entrepreneurs during their quest to establish or expand investment activity, including training and development, and provision of data and advisory services in addition to the development of several initiatives in the field of marketing”.


Al Naseri explained that the Fund provides financing solutions to a variety of low-interest viable projects that are in the service of the national economy through programs (Khutwa, Bedaya, Zeyada, and Tasneea) to cover different segments of small and medium enterprises.


Al Naseri praises the efforts of Khalifa Fund in the field of social development through number of the social initiatives. Khutwa Program that provides support for specific group like widows, divorcees and artisans. Al Radda Program which is designed for inmates to support them to be part of the society and reduce the possibility of their redoing the crimes. Sougha Program which design to revive the heritage and to enable the artisans to convert their talents and their trades to source of income. Amal Program which is designed for people with special needs.


The Egyptian delegation expressed admiration for the experience of Khalifa Fund, integrated achievements. H. E. Dr. Nasr praised the balance achieved between social and economic development through diverse programs that meet the various needs of entrepreneurs expressing Egypt readiness to cooperate in this area.