Ruwad approves funding for three new Sharjah projects worth AED 1.8 million

The Sharjah Entrepreneurship Foundation (Ruwad),affiliated with the Sharjah Economic Development Department (SEDD), has approved funding for three projects in the Emirate, totalling AED 1.8 million.

This was announced during the 38th meeting of the Foundation’s Project Financing Committee, chaired by Hamad Ali Abdullah Al Mahmoud, Chairman of the SEDD.

The meeting agenda included reviewing project funding applications. The committee approved direct funding of AED 400,000 for a professional project in Kalba, and AED 400,000 for an industrial project in Sharjah under the direct funding scheme supporting the industrial sector. Another industrial project was approved 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 of AED 5.66 million.

Hamad Al Mahmoud highlighted that the new approvals reflect Ruwad’s commitment to empowering Emirati entrepreneurs and enhancing their role in supporting comprehensive economic development in the emirate by providing suitable financial solutions that sustain and expand their projects locally and internationally.

He added that the committee continues to evaluate funding applications using strict criteria to direct resources toward economically viable projects, boosting Sharjah’s business competitiveness and supporting the emirate’s goals of nurturing entrepreneurship and creating growth opportunities for national projects.

The meeting also reviewed the 2025 funding balance and funding decisions made so far this year.