In response to the recent adverse weather conditions in mid-April, the Sharjah Entrepreneurship Foundation “Ruwad,” affiliated with the Department of Economic Development, has announced a comprehensive package of incentives and supportive measures for its member projects.
Collaborating closely with Sharjah’s local emergency and crisis team, Ruwad aims to provide much-needed assistance to member projects affected by the recent weather disturbances.
Chairman Hamad Ali Abdullah Al Mahmoud reiterated the foundation’s steadfast commitment to supporting its national projects, emphasizing Ruwad’s dedication to standing by its members through all challenges. This support is intended to ensure the uninterrupted operation of member projects, enabling them to continue delivering services and products to customers while also assisting them in mitigating unexpected costs or expenses.
The incentive and support package unveiled by Ruwad encompasses various measures tailored to assist affected projects. Notably, it includes 100% priority funding for project assets such as equipment, furniture, and raw materials. Additionally, affected projects may be eligible for a 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 initiative extends exemptions from temporary permit fees for projects relocating to ensure uninterrupted operations. Furthermore, affected projects will be prioritised in designated spaces within government entities, such as the Department of Economic Development, facilitating seamless project operation.
The proactive measures undertaken by Ruwad underscore its commitment to fostering resilience and sustainability within Sharjah’s entrepreneurial ecosystem, providing vital support to weather-affected member projects and bolstering their continued growth and success.
