Khalifa Fund provides AED 12.5m for 88 fishermen

The Khalifa Fund for Enterprise Development, KFED, has signed an agreement with the Union of Fishermen’s Associations in the country to extend the period of the Al Hasela Programme, as well as to implement projects to improve the skills of fishermen and the circumstances for fishing activities, in order to increase their income and life style.

The agreement was signed by Abdullah Saeed Al Darmaki, Chief Executive Officer of the Khalifa Fund and Ali Mohamed Al Mansoori, Chairman of the Fishermen's Association Union. The agreement aims to spread the culture of entrepreneurship among fishermen to improve their skills and expand their activities.

The agreement is expected to server a wide range of Emiratis fishermen with financial and non-financial benefit and facilities for the Al Hasela Programme. These includes training in entrepreneurship, counselling session and financial services that doesn’t go against the rules and regulations of the fund.

"The Khalifa Fund is working to contribute to the efforts of the Fishermen’s Association Union to reserve the traditional fishing activities and improve them," said Al Darmaki, adding that the fund aims to empower the fishermen to invest their skills and transfer them to become permanent source of income through enhancing the culture of entrepreneurship.

One of Al Hasela’s target is to convince Emirati fishermen to sustain their career and to get the benefit of current technology and techniques. The Al Hasela programme has financed 88 projects at total amount of AED12.5 million, he explained.

Al Mansoori said that the agreement with the Khalifa Fund is a solid base for a fruitful collaboration to improve the fishing careers and lifestyle of Emirati fishermen. The Al Hasela programme has a very valuable goal to sustain traditional fishing careers.

The Khalifa Fund for Enterprise Development will provide a batch of services for Emirati fishermen, which include specialised training sessions to spread awareness and the spirit of innovation, awareness sessions concerning managing projects, provide technical and financial counselling services, and enabling them to benefit from exemptions and fee reductions in issuing licenses.