The National Fund for SME Development (SME Fund)

https://magnitt.com/investors/the-national-fund-for-sme-development-51581

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In April 2013, the Government has enacted law number 98 of 2013 to establish a National Fund for SME Development (the “SME Fund”). The law is intended to help the country make a major stride in the efforts to support the youth, combat unemployment, and enable the private sector to drive economic growth. As an independent public corporation, with a total capital of KD 2 billion, the SME Fund will finance up to 80 percent of capital for feasible small and medium projects submitted by Kuwaiti nationals. The law defines eligible SMEs as enterprises that employ 1 to 50 Kuwaiti workers, with financing requirements that do not exceed KD 500 thousands.

Investor Type Government Initiative

Disclosed Capital Deployed N/A

Ticket Size N/A

Stage Focus N/A

Geo Focus N/A

Industry Focus N/A

Location Kuwait City, Kuwait

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GEOGRAPHICAL LOCATION

Location: Kuwait City, Kuwait

Branches: N/A