Abu Dhabi: Khalifa Fund for Enterprise Development has signed an agreement with the International Finance Corporate (IFC) to develop the SME Toolkit web platform for the UAE. The toolkit, an innovation of the IFC, offers entrepreneurs free, online and around-the-clock access to expert information, interactive tools and educational resources in order to help them implement sound business management practices, access finance, and enter new markets.
IFC's SME Toolkit was launched in 2002 and is available in 32 countries and 18 languages. Its various websites worldwide receive a combined 5 million unique visitors annually. In many places it is the largest online business support resource in the local language.
Khalifa Fund believes the local content to be developed for the UAE toolkit in addition to the global content will improve the management skills of entrepreneurs, and expand the learning opportunities for the Fund's members.
The agreement was signed by H. E. Abdullah Saeed Al Darmaki the Chief Executive Officer of Khalifa Fund for Enterprise Development, and Mr. Luke Haggarty the Head of MENA Advisory Services in the International Finance Corporation (IFC).
"This MOU reflects the true dedication of Khalifa Fund to provide the appropriate environment for the sustainable and success of the small and medium enterprises within UAE as well as the enterprises funded by Khalifa Fund in accordance to Abu Dhabi Vision 2030", said H. E. Abdullah Saeed Al Darmaki the CEO of Khalifa Fund.
"This SME Toolkit will give the chance for Khalifa Fund's members to develop their skills and their marketing and managerial talents and others tools in order to develop their Entrepreneurship abilities. This Toolkit will include international experiences in the field of SME which will enable Khalifa Fund's members to publish their success stories and to communicate effectively with their peers in other countries worldwide", added Al Darmaki.
Mouayed Makhouf, IFC Director Middle East and North Africa, said "Smaller companies often don't have access to the information and training resources they need to expand. The SME toolkit will provide them with those resources."
In 2006, IFC partnered with IBM to strengthen and expand the SME Toolkit's capabilities. To date, IBM has invested more than $3 million to co-develop the product on an open-source platform, offering innovative and collaborative features.
About Khalifa Fund for Enterprise Development
In June 2007 the Khalifa Fund was created as an independent agency of the Government of Abu Dhabi, now with a capital of Two Billion Dirhams to satisfy the needs and requirements of entrepreneurs. The Fund provides a comprehensive program to expand their business activity, within the context of the efforts which the Fund exerts to provide an appropriate business enabling environment and to enhance the capabilities of potential entrepreneurs.
The Fund uses a modern assistance and support services system, including training, development, providing access to market intelligence and consultancy services in addition to developing various marketing initiatives.
The Fund also provides various financial solutions for promising enterprises that may serve the national economy in the form of programs such as (Khutwa, Bedaya, Zeyada and Tasneea) which are made available to all types of SMEs.
Khalifa fund also launched social-economic initiatives, such as Sougha which aims at preserving the Emirati heritage. Al Radda, the first program in the U.A.E which is for prison inmates. Ishraq for patients who are recovering from addiction which are inmates of the national center of rehabilitation.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities--all while driving our investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org
About IBM
For more information about IBM, please visit: www.ibm.com IBM's Corporate Responsibility Report is available at: www.ibm.com/responsibility/
© Press Release 2012
