Arab Today, arab today khalifa fund and sfd sign agreement
Last Updated : GMT 06:43:23
Arab Today, arab today
Arab Today, arab today

To boost development in Egypt

Khalifa Fund and SFD sign agreement

Arab Today, arab today

Arab Today, arab today Khalifa Fund and SFD sign agreement

Ibrahim Ahmed Al Mansouri with Ghada Wali
Cairo - Arab Today

Ibrahim Ahmed Al Mansouri with Ghada Wali Cairo - Arab Today The Khalifa Fund for Enterprise Development (Khalifa Fund) and Egypt’s Social Fund for Development (SFD) signed a framework agreement on Wednesday, outlining joint efforts to boost development and opportunities for small and micro sized enterprises in Egypt. The agreement was signed on the sidelines of the Egypt-GCC Investment Forum, which started in Cairo on Wednesday. Ibrahim Ahmed Al Mansouri, Khalifa Fund’s Chief Operations Officer, and Ghada Wali, SFD’s Managing Director, signed the agreement in the presence of Egyptian Prime Minister Dr Hazem El Beblawi, UAE Minister of State Dr Sultan Ahmed Al Jaber, Egypt’s Deputy Prime Minister for the Economic Affairs and Minister of International Cooperation Dr Ziad Bahaa Eldin and the UAE’s Ambassador to Egypt Mohammed bin Nukheira Al Daheri. The framework agreement stipulates that the UAE will provide US $200 million (Dh736 million), via the Khalifa Fund, to the SFD in order to catalyse the start-up of small and micro sized enterprises with the overarching goal for these businesses to achieve significant socio-economic impact throughout Egypt. The agreement aims to establish a mutually-beneficial framework for future cooperation between both entities through investments in projects which will contribute to the development of impoverished areas throughout the country, with a focus on expanding social funding programmes for women and youth with an objective of increasing employment opportunities and income generation. Dr Sultan Ahmed Al Jaber said: “The wise leadership of the UAE has asked us to identify development opportunities for Egyptian citizens in various sectors. We are pleased to sign this agreement during the Egypt/GCC Investment Forum, a platform that demonstrates our willingness to further the cooperation between Gulf countries and Egypt. I would like to take this opportunity to thank the Khalifa Fund for Enterprise Development and Egypt’s Social Fund for Development for their efforts in creating this agreement, which sets the structural framework for the launch of many innovative projects centred around sustainability and empowerment.” He added: “This agreement reflects the UAE’s vision to boost sustainable development and foster Egypt’s human capital; focusing specifically on women and youth. We are confident that these segments of society will be able to launch their own unique projects and businesses, which will contribute to income generation and poverty reduction.” He concluded by saying that the strength of the relationship between both countries will continually ensure that the UAE will stand by the people of Egypt during challenging times as it regains its regional leadership position. Dr Al Jaber also stressed that economic stability is the foundation of national security as well as political and social stability. Al Jaber emphasised that this agreement aims to foster a new and innovative entrepreneurial culture that hopes to instil optimism and positive mindsets. Dr Ziad Bahaa Eldin said the UAE is a sister country to the Arab Republic of Egypt and cooperation between the two countries in the field of small enterprises seeks to implement a strategic partnership for investment in the Egyptian economy, and the promotion of an entrepreneurial culture through more production, innovation, and development. Khalifa Fund’s Chief Operations Officer Al Mansouri called the agreement “an important step towards building strategic relations with the SFD as it seeks to reduce poverty and unemployment.” Furthermore, he described the agreement as an opportunity to work closely with its new partners at the SFD and learn more about Egypt’s numerous promising industries and sectors that may benefit from the joint venture through capacity building efforts to become sources of creative job opportunities. According to the framework agreement, the Khalifa Fund will provide financial and non-financial support for small and micro ventures through the Social Fund for Development. The agreement also stipulates new levels of cooperation between both parties and the necessity of data sharing to ensure the success of the mission and achieve the framework’s objectives. Source: WAM

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today khalifa fund and sfd sign agreement Arab Today, arab today khalifa fund and sfd sign agreement

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 13:35 2017 Friday ,17 February

Confirms Britain is biggest investor in Egypt

GMT 15:55 2017 Thursday ,16 February

Egyptian foods completely unobserved nor healthy

GMT 11:18 2017 Wednesday ,15 February

Reveals plan to get out of financial crisis

GMT 12:33 2017 Tuesday ,14 February

Yemeni accuses militias of challenging oil

GMT 18:07 2017 Monday ,13 February

Over 3000 workers lost their jobs

GMT 17:57 2017 Sunday ,12 February

Seeks to achieve growth of about 30% in 2017

GMT 14:05 2017 Saturday ,11 February

Stresses Increase prices not surprise citizens
View News in Arabic - Business: أخبار الاقتصاد
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday