Date: August 1, 2016
Al Rafd Fund signed a Memorandum of Understanding (MoU) with Zubair Small Enterprises Centerfor supporting entrepreneurs financed by the Fund. The agreement was signed by Mohammed bin Saif al Amri, Director General for Subsidy and Entrepreneurs at Al Rafd Fund, and Ali Shakir Business and Partnership Development Manager at Zubair SEC. As per the MoU, beneficiaries of the financing provided by Al Rafd Fund will be guided to benefit from the various services provided by Zubair SECincluding technical guidance, business advisory, and training .
The applications nominated by Zubair SEC will be also considered for financing by Al Rafd as per the terms and conditions in force. Zubair SEC will also provide a number of free of charge training programmes for entrepreneurs in several fields, in coordination with Al Rafd Fund, and in alignment with the Centre’s capacity building strategy. Priority will be given to those who benefit from the finance programmes for purchases and contracts. The agreement also provides for the sharing of information from different organisations to streamline the procedures to get the required finance from these organisations.
The agreement comes as part of the efforts done by Al Rafd Fund to subsidize entrepreneurs and enhance cooperation with the public and private organisations to provide entrepreneurs with the conducive environment that helps them address the challenges facing them while trying to develop their business. The agreement, which comes within Al Rafd Fund’s new trend, enhances 80/20 Plan, which subsidizes and develops entrepreneurs’ projects.