Sharjah’s Ruwad Launches Weather-Affected Business Support Package
Sharjah Entrepreneurship Foundation ‘Ruwad’, affiliated with the Department of Economic Development, 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 teams, Ruwad aims to bolster affected member projects.
Chairman Hamad Ali Abdullah Al Mahmoud said the 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 said the incentive and support package will provide affected projects with 100 percent priority funding for project assets like equipment, furniture, and raw materials.
In addition, affected projects may also qualify for deferral of direct financing installments 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 also 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.
