Sharjah: The Sharjah Entrepreneurship Foundation (Ruwad), affiliated with the Sharjah Economic Development Department (SEDD), has approved funding for three projects in the Emirate, totaling AED 1.8 million. This decision was made during the 38th meeting of the Foundation’s Project Financing Committee, chaired by Hamad Ali Abdullah Al Mahmoud.
According to Emirates News Agency, the meeting agenda included the review of project funding applications. Direct funding of AED 400,000 was approved for a professional project in Kalba, and another AED 400,000 for an industrial project in Sharjah under the direct funding scheme supporting the industrial sector. An additional industrial project received approval for AED 1 million through indirect financing via a bank.
By mid-October, the total number of projects approved by the Project Financing Committee in 2025 reached 19, with total funding amounting to AED 5.66 million. Hamad Al Mahmoud emphasized that the new approvals reflect Ruwad’s commitment to empowering Emirati entrepreneurs and enhancing their role in economic development by providing suitable financial solutions.
He further noted that the committee continues to evaluate funding applications using strict criteria to ensure resources are directed toward economically viable projects. This approach aims to boost Sharjah’s business competitiveness and support the emirate’s goals of nurturing entrepreneurship and creating growth opportunities for national projects.
The meeting also included a review of the 2025 funding balance and funding decisions made so far this year.