In implementation of the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, the Khalifa Fund for Enterprise Development and the Ministry of Treasury and Planning in the Republic of Kenya signed a financing agreement worth $30 million to support the Kenya Youth Fund with the aim of promoting entrepreneurship and developing small and medium enterprises in Kenya.
The agreement was signed in the capital, Nairobi, in the presence of Uhuru Mogai Kenyatta, President of the Republic of Kenya, Alia Abdullah Al Mazrouei, CEO of the Khalifa Fund for Enterprise Development, and Okur Yatani, Kenyan Minister of National Treasury and Planning.
Alia Al Mazrouei said that the agreement – under which the Khalifa Fund provides financing worth 30 million US dollars (about 110 million dirhams” – embodies the close friendship relations between the United Arab Emirates and the Republic of Kenya… explaining that the funding aims to support the Kenyan government’s efforts in economic development .
She pointed out that the Khalifa Fund aims, through providing this funding, to promote innovation, support the creation of innovative projects, and provide job opportunities for young people in the Republic of Kenya, as well as stimulating their capabilities, developing their talents and enabling them to contribute to building a sustainable and stable national economy.
“We seek to support the Kenyan government’s efforts to achieve economic development by strengthening the small and medium enterprise sector, spreading the culture of entrepreneurship among youth and empowering women,” she added.
Al Mazrouei explained that the agreement aims to finance more than 3,000 projects, 40% of which are allocated to women, and it is expected that these projects will contribute to providing nearly 13,000 permanent job opportunities for Kenyan youth.
Al Mazrouei indicated that the Khalifa Fund for Enterprise Development has succeeded in transferring its experience to many brotherly and friendly countries in recent years, within the framework of the commitment of the United Arab Emirates to providing various forms of support to brotherly and friendly countries under the wise leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State “May God protect him” who always stresses the importance of providing various forms of support to siblings and friends.
She affirmed the commitment of the UAE to support the official development efforts of the least developed countries, and to enable them to enhance their economic performance, in order to achieve economic and social stability, which positively affects the global economy and international stability.
For his part, Okur Yatani, Minister of National Treasury and Planning of the Republic of Kenya, thanked and appreciated the United Arab Emirates for this important support, which will enable many segments of society, including women and youth, to contribute positively to building their country’s economic future, praising the strong relations between the two friendly countries.
He explained that such agreements will have a positive impact, helping to advance development in rural areas, support the creation of projects, create job opportunities in the future, and achieve comprehensive growth to reduce poverty.
It is noteworthy that the Khalifa Fund for Enterprise Development, which was established in 2007 in Abu Dhabi, has become one of the most prominent institutions concerned with spreading the culture of entrepreneurship and supporting small and medium enterprises in the United Arab Emirates. It has financed more than 1,600 projects within the country, while transferring its successful experience to about 23 countries in Europe, Asia and Africa through pioneering financing programs aimed at strengthening government efforts in those countries to achieve sustainable development and build a diversified and stable economy.
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