The Project Financing Committee of the Sharjah Entrepreneurship Support Foundation, known as “Ro’da,” recently convened for its 41st meeting at the headquarters of the Sharjah Economic Development Department. The meeting was led by Hamad Ali Abdullah Al Mahmoud, the head of the department, and included committee members Saeed Ghanem Al Suwaidi, Faisal Jassim Al Madfaa, Fahd Al Khamiri, Dr. Mudhafar Abdullah, and Nora Al Zarouni.
Also attending were Fatima Hassan Al Ali, the director of the organization and head of the project’s technical financing committee, alongside technical committee members Rashid Sawqad, Nasser Abdullah Al Owais, and Hamda Mohammed Al Hammadi.
The agenda focused on reviewing the approved financing balance for 2026, alongside financing decisions made through the foundation’s direct financing program and indirect financing via banks.
Hamda Mohammed Al Hammadi presented a detailed report on the projects that applied for financing, including requests for reconsideration of previous decisions regarding several projects. These requests were discussed, and appropriate decisions were made.
The committee approved funding for a project in the sports sector through indirect financing from a bank, amounting to 700,000 AED, which reflects the foundation’s commitment to supporting high-quality, economically viable projects in vital sectors.
Thus, the total number of projects receiving financing approvals from the committee in 2026 has now risen to three, with a total funding value reaching 1.5 million AED as of the end of February.
The committee also directed the preparation of a comprehensive framework for evaluating projects applying for funding. This framework will include specific elements such as the applicant’s credit report, deduction rate, and the monthly salary of the project owner, aiming to enhance the accuracy of application reviews and reinforce governance and transparency in financing mechanisms.
In conclusion, the committee reaffirmed its commitment to developing financing policies and programs that empower local entrepreneurs, support the sustainability of their projects, and contribute to the economic development and competitiveness of the Emirate of Sharjah.