SHARJAH, 18th January, 2026 (WAM) — The Sharjah Foundation to Support Pioneering Entrepreneurs (RUWAD), affiliated with the Sharjah Economic Development Department (SEDD), has approved funding for two new entrepreneurial projects with a total value of AED800,000.
The decision was taken during the Foundation’s 40th Project Funding Committee meeting, the first of 2026, held at SEDD headquarters under the chairmanship of Hamad Ali Abdullah Al Mahmoud, Chairman of SEDD, and attended by committee members and senior officials.
Al Mahmoud commended the committee’s efforts in 2025, during which eight meetings were held, stressing the importance of continued support for national small and medium enterprises to strengthen economic development and enhance diversification and competitiveness across the Emirate’s sectors.
The committee reviewed the 2025 financing ceiling and funding outcomes, which included 21 approved projects valued at AED6 million. Of these, 19 projects received direct funding amounting to AED4.3 million, while two projects were approved for bank financing totalling AED1.7 million.
During the meeting, the Technical Committee for Project Funding reviewed new funding applications and reconsideration requests, and approved funding for two projects in the Emirate. One project received direct funding of AED100,000, while the second was approved for indirect bank financing of AED700,000.
The committee also approved the financing ceiling for the first half of the current year and directed the preparation of a new project evaluation framework.
In addition, several recommendations were endorsed to enhance project support, including the launch of specialised training programmes in financial budgeting, cash flow management and quality assurance, as well as measures to expand access to suppliers, improve competitive pricing opportunities, and determine contribution ratios for new projects based on funding levels and credit assessments.
