The Khalifa Fund for Project Support announced the postponement of receiving the installments due for the next 3 months for citizens of micro, small and medium enterprises who were included in the loan program to establish their commercial projects.
The fund's chairman, Mohammed Ali Al-Shurafa, emphasized that this initiative comes in line with the announcement of the Executive Council of the Emirate of Abu Dhabi about a package of incentive and supportive economic initiatives for the private sector, especially citizens whose projects have achieved success in the market.
He pointed out that the Khalifa Fund for Project Support works to study more supportive and stimulating initiatives for MSMEs, especially those that have been affected by the repercussions of the spread of Corona Virus Covid 19 infection in many economic fields worldwide.
He said that the projects listed under the Khalifa Fund for Project Support totaling 496 commercial projects owned by citizens need more support so that they can continue in their commercial activity, as postponing their premiums will reduce their costs and at the same time contribute to the continuation of their operational operations in the market, which It will ensure the continuity of providing services to society, as most of their business activities are related to the services sector.
"We are currently focusing on studying the conditions of the local market in the Emirate of Abu Dhabi and the extent of the business sector being affected by the precautionary and precautionary measures taken by the leadership and government of the rational state to preserve the health and safety of the community members, residents and residents," added Mohammed Ali Al-Shurafa.
He explained that one of the measures to be taken by the Khalifa Fund for Project Support is to conduct a survey of citizens of project owners to see their challenges in order to develop supportive initiatives in coordination and cooperation with the relevant authorities.
Muhammad Ali Al-Shurafa stated that the fund intends to study the provision of short-term loans allocated to troubled micro, small and medium-sized companies due to the current circumstances, noting that this initiative will be accompanied by organizing a specialized workshop remotely via the "Internet" to enable members of the project owners to manage their business during times of crisis in order to find Innovative ways that contribute to their continued delivery of their products and services.
He emphasized that the team at the Khalifa Fund for Project Support is ready to provide consulting, capacity building and support services to project owners in a manner that enhances their role in supporting the directives of the UAE government to combat Corona Virus Covid 19 infection by providing their services to the community and contributing to keeping citizens and residents in their homes at the present time.