Khalifa Fund Issued Dhs1.32b In Finances, Created 15,000 Jobs

Khalifa Fund’s loans to the SME sector have resulted in major positive implications for the national economy

Abu Dhabi’s Khalifa Fund for Enterprise Development on Monday published an ‘Impact Report’, which measures the effectiveness of their funding programs between 2007-2019, and how their various forms of funding have helped develop SMEs and shape the future of the UAE’s entrepreneurial ecosystem.

According to its new report the Fund said it has issued a total of Dhs1.32 billion ($359 million) in loans and directly created 15,000 jobs between 2017 and 2019.

The 54-page report assessed how the UAE’s economy and GDP were impacted, how the SME sector performed financially, and how many jobs were created directly as a result of loans from Khalifa Fund.

The report used six key indicators to gauge the level of impact the various forms of funding provided, including: enterprise creation, job creation, financial and economic analysis, internationalization, and perceived operational impact. The indictors showed Khalifa Fund’s funding resulted in: the creation of 15,000 jobs in the UAE market, 1,800 of which for Emiratis; 1,168 activated loans, with an accumulative sum of Dhs1.32 billion; 152 projects that export to international markets; the establishment of 6 per cent of the Emirati SMEs; and an overall ROI of 15.5 per cent.

Mouza Al Nasri, Acting CEO of Khalifa Fund for Enterprise Development, stated: “The Impact Report provides nuanced insight into the details of Khalifa Fund’s long-term commitment towards being the primary source of financial support for SMEs in the UAE”.