The Al Rafd Fund announced the launch of four new funding programmes last week.
These are: The ‘Mawrid Programme,’ which targets those under the social security system and the disabled who can manage projects with a loan of RO10,000; the ‘Taasees Programme,’ which targets jobseekers who wish to start projects with a loan of up to RO20,000; the ‘Riyada Programme,’ which targets entrepreneurs, craftsmen, businessmen and women and rural woman with a loan ceiling of RO100,000; and, the ‘Taaziz Programme,’ which provides additional loans to beneficiaries of the fund and those who seek to expand their projects subject that the beneficiary should have paid 50 per cent of the first loan and that the project age should be not less than three years.
Dr Hamad al Oufi, undersecretary of the Ministry of Agriculture and Fisheries and deputy chairman of Al Rafd Fund, who officially launched the programmes, said they can be obtained easily, and without any administrative or technical fees for those covered under social security.
“In other cases, the fee will not be more than two per cent. The grace period will be up to 15 months. The repayment will take into consideration the needs of entrepreneurs during the first three years to ensure the success of such ventures,” he said.
Al Rafd Fund also announced the launch of its website and the construction of a call centre. A contract will be signed with a specialised company to manage the centre.
Tariq al Farsi, CEO of the fund, said that a comprehensive system for receiving loan applications will be put in place. “Applications can be made through the website and once the applications are received, the fund will study them and provide appropriate instructions to the respective people,” he said.
Fund more accessible, mobile branches will be launched soon. The branches will provide information and services related to establishing individual projects. It will also meet those who desire to start projects or need support and provide them with the suitable funding. The mobile branch will be equipped with modern furniture, equipment and relevant electronic systems.
