The Khalifa Fund for Enterprise Development and Kenya’s Ministry of Treasury and Planning signed a $30 million financing agreement to support the Kenya Youth Fund.
The CEO of the Khalifa Fund for Enterprise Development, HE Alia Al Mazrouei, said that the funding aims to support the Kenyan government’s efforts in economic development.
She pointed out that the Khalifa Fund aims, through providing this funding, to promote innovation, support the creation of innovative projects, and provide job opportunities for young people in the Republic of Kenya.
Al Mazrouei explained that the agreement aims to finance more than 3,000 projects, 40% of which are allocated to women.
These projects are expected to provide approximately 13,000 permanent job opportunities for Kenyan youth.
It is noteworthy that the Khalifa Fund for Enterprise Development, which was established in 2007 in Abu Dhabi, has become one of the most prominent institutions concerned with spreading the culture of entrepreneurship and supporting small and medium enterprises in UAE. It financed more than 1,600 projects within the country, while transferring its successful experience to about 23 countries in Europe and Asia.
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