Khalifa Fund for Enterprise Development (KFED) was established in 2007 as an independent, non-profit Small and Medium Enterprises (SMEs) Socio-Economic Development agency of the Government of Abu Dhabi, to support and develop local enterprises in the UAE. Since inception, the Fund has empowered Emirati entrepreneurs by creating the right business environment for small and medium enterprises and encouraging a culture of innovation and entrepreneurship among the youth. Khalifa Fund delivers a range of integrated and comprehensive programmes aimed at fulfilling the requirements of local entrepreneurs seeking to establish or expand their businesses.
Khalifa Fund started with a total capital of AED 300 million, which was gradually increased to AED 2 billion covering all the UAE and providing a comprehensive system of financial and non-financial support for small and medium enterprises. As part of its mission, Khalifa Fund also seeks to implement the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to transfer its experience and expertise to other brotherly and friendly countries. Accordingly, in 2014, the Fund put in place a series of initiatives aimed at developing small and medium enterprises in Egypt, Yemen, Chechnya, Belarus and some African countries to replicate its success story in these countries.
Till date, Khalifa Fund has approved loans to the tune of AED 1.6 billion for as many as 1,600
small and medium projects, while the number of projects benefiting from the Membership Program of the Fund has crossed 1,000. These projects benefit from the entire services of the Fund, except loans. KFED also provides financing programs for entrepreneurs and supports projects approved for financing. As part of its development agenda, the Fund also offers training programmes to equip entrepreneurs with the necessary skills and know-how for setting up and managing businesses. It also collaborates with strategic partners to foster an environment of innovation and excellence for entrepreneurs, to help them achieve their business aspirations and goals.
For more information, please visit: www.khalifafund.ae