Khalifa Fund of UAE provides $100 million to Ethiopia

Finance

The Khalifa Fund for Enterprise Development of the United Arab Emirates (UAE) today agreed to provide $100 million for the government of Ethiopia to help entrepreneurs create jobs for the growing number of unemployed youths in Ethiopia.

Entrepreneurs mainly who work on innovative technology related businesses with potential of cutting unemployment in Ethiopia will be beneficiary of the funding, according to the deal signed in Addis Ababa today in the presence of Prime Minister Abiy Ahmed of Ethiopia.



Khalifa Fund was established in June 2007 to help develop local enterprises in Abu Dhabi by instilling and enriching the culture of investment amongst UAE nationals. Since 2014 onward, Khalifa Fund started expanding its horizon and replicating its model in several regional and international countries to develop SME sector to be the catalyst of economic growth in these countries.

The Khalifa Fund for Enterprise Development has begun his efforts aimed at supporting and promoting SME sector in the brotherly Republic of Yemen and the friendly republics of Chechnya, and Belarus.