Sharjah: Sharjah Foundation for Supporting Entrepreneurial Projects (Ruwad) approved financing applications for four new entrepreneurial projects in the Emirate of Sharjah, with a total value of AED 670,000. The approval was given during the 37th meeting of the Ruwad’s Project Financing Committee, affiliated with the Sharjah Economic Development Department (SEDD).
According to Emirates News Agency, Hamad Ali Abdullah Al Mahmoud, Chairman of SEDD, who chaired the meeting, emphasised that the financing services provided by the Foundation are aimed at supporting Emirati entrepreneurs who own small and medium enterprises in the emirate. He stressed that these initiatives represent a promising investment that strengthens the future of the national economy and empowers youth to be effective partners in the development process in the UAE.
Al Mahmoud confirmed Ruwad’s commitment to consolidating the global model established by the UAE in the entrepreneurship sector, highlighting Sharjah’s position as a major incubator for creativity and innovation. Ruwad plays a pivotal role in transforming ideas into projects and ambitions into success stories, contributing to a diversified knowledge-based economy that anticipates future trends.
During the meeting, the list of projects submitted for funding was reviewed. Four projects received approval under the Foundation’s direct funding system, distributed by city: three in Sharjah and one in Kalba. By type of activity, three projects were in the professional service sector, and one was in the commercial sector.
The approved projects included three owned by Emirati female entrepreneurs and one by an Emirati entrepreneur. By the end of the third quarter of 2025, the total number of projects approved for financing by the Foundation had risen to 16, with a total financing value of AED3,860,000.
As part of the meeting agenda, the attendees reviewed the remaining financing balance for 2025. The committee decided to raise the financing ceiling for the fourth quarter to AED1,500,000, responding to the increasing demand from entrepreneurial projects seeking financing services provided by the Foundation, whether through direct or indirect financing.