Khalifa Fund signs US$15 million agreement to support Togolese SME’s

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ABU DHABI, 11th March, 2019 (WAM) — His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Faure Gnassingbe of Togo, witnessed on Monday, the signing of an US$15 million agreement between Khalifa Fund for Enterprise Development and Togo’s Ministry of Finance, to support micro, small and medium-sized enterprises, SMEs, in the country.

The agreement was signed by Hussain Jasim Al Nowais, Chairman of Khalifa Fund for Enterprise Development, and Sani Yaya, Minister of Finance of Togo.

Commenting on the signing, Al Nowais said that the agreement is part of the UAE’s efforts to support development programmes in a number of friendly countries. It also aims to enhance bilateral relations between the UAE and Togo, he added.

Al Nowais explained that the agreement will see Khalifa Fund provide financial and technical frameworks to support Togo’s development efforts, and empower entrepreneurship and SMEs in the country, He went on to say that the agreement will provide young innovative individuals with opportunities to take advantage of their skills and craftsmanship, enabling them to build their income generating means, as well as help economic growth in Togo. It will also see the creation of new jobs and empowerment of female entrepreneurs, Al Nowais added.

Khalifa Fund was established in Abu Dhabi in 2007, with the aim to lead entrepreneurship development and facilitate growth of competitive SMEs in the UAE and abroad.

The signing ceremony was also attended by Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation; Mohammed Mubarak Al Mazrouei, Under-secretary of the Abu Dhabi Crown Prince’s Court, Cina Lawson, Togolese Minister of Post and Digital Economy; Marc Ably-Bidamon, Togolese Minister of Energy, and Robert Dusi, Togolese Minister of Foreign Affairs.



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