The Sharjah Entrepreneurship Foundation “Ruwad,” affiliated with the Department of Economic Development, has adopted a package of incentives and supportive measures for its member projects affected by the recent weather conditions in mid-April.
Working in collaboration with Sharjah’s local emergency and crisis team, Ruwad aims to bolster affected member projects.
Chairman Hamad Ali Abdullah Al Mahmoud underscored the foundation’s unwavering commitment to supporting its national projects, standing by them through all conditions. This support is designed to maintain seamless business operations, enabling them to provide services and products to customers while also assisting them in compensating for unexpected costs or expenses.
He explained that the incentive and support package provides affected projects with 100% priority funding for project assets like equipment, furniture, and raw materials. Moreover, affected projects may qualify for deferral of direct financing instalments and a grace period of up to six months for repayment.
Ruwad, in collaboration with strategic partners from governmental, semi-governmental, and private sectors, will oversee the implementation of the external support plan. This plan extends exemptions from temporary permit fees for projects relocating to ensure uninterrupted operations and prioritises affected projects in designated spaces within government entities, such as the Department of Economic Development for project operation.
Source: WAM
