Media ININ Economy We Trust
Sharjah, August 8 / The Sharjah Foundation for Supporting Pioneering Projects “Ruwad”, affiliated to the Sharjah Economic Development Department, has approved the financing of a new sports project at a value of 1.2 million dirhams.
This came during the nineteenth meeting of the Project Finance Committee of the “Ruwad” Foundation, which was held at the headquarters of the Department of Economic Development in Sharjah.
The meeting was chaired by His Excellency Hamad Ali Abdullah Al Mahmoud, Director of the Sharjah Foundation for Supporting Pioneering Projects “Ruwad” and Chairman of the Project Finance Committee, in the presence of the members of the committee, Saeed Ghanem Al Suwaidi, Faisal Jassim Al Midfa, Fahd Al Khamiri, and Noura Al Zarouni, in addition to the members of the Technical Committee, Hamda Al Hammadi Administrative First Finance, and Nasser Abdullah Al Owais, Senior Financial Analyst.
Al-Mahmoud praised the efforts of the committee members in providing suggestions and recommendations that enhance the orientation of male and female citizens towards the entrepreneurship sector through various financing programs, and the institution’s facilitation of procedures for obtaining financing according to sound foundations that enable the establishment and continuity of small and medium enterprises.
During its periodic meeting, the committee reviewed a number of projects applying for financing, and discussed the most important competitive advantages of each project, its ability to continue and the added value it will provide to society and the national economy. The committee agreed to finance a sports project with a value of 1.2 million dirhams.
The Project Finance Committee supported the Technical Committee’s proposal regarding the “Ruwad” Foundation contracting with a national auditing firm to support government procurement, and to audit and issue the required reports for funded projects and visit them.
