National Fund shored up 132 SMEs during pandemic -- Kuwaiti official

KUWAIT, Aug 15 (KUNA) -- Director-General of the National Fund for SME Development (SME Fund) Adel Al-Hasawi said Monday the Fund helped resolve the problems of 132 small and medium-sized enterprises (SMEs) during the emergency of coronavirus (Covid-19) pandemic.
Under recent instructions of the cabinet, the Fund is working on applications from 72 SMEs for benefiting from the act on stumbling projects, he told reporters on the fringes of the signing of a cooperation deal with Kuwait Society of Engineers (KSE).
Founded in April 2013 under Act 98, the government Fund approved establishing 1,422 projects and joint agreements with 992 SMEs, he said, noting that some SMEs offered essential backing to the national economy during the pandemic in such areas as medical services, logistics and foodstuff supplies.
On the agreement with KSE, Al-Hasawi said it falls in the framework of working with government and non-government organizations to create the conditions conducive to the growth of listed SMEs.
The agreement will help entrepreneurs and facilitate the future missions of the National Fund, he added. (end) fnk.hth.gb