Khalifa Fund and BP sign partnership agreement to enhance cooperation in supporting SMEs

Abu Dhabi: The Khalifa Fund for Enterprise Development and BP Exploration Operating Company Limited have signed an agreement for collaboration in supporting and encouraging entrepreneurship as well as developing the small and medium-sized enterprise sector in the country.

The aim of this agreement, signed on Sundayday in the Khalifa Fund’s headquarters by Abdullah Saeed Al Darmaki, the Chief Executive Officer of Khalifa Fund for Enterprise Development, and Abdul Karim Al Mazmi, General Manager and Chief Representative for BP UAE, is to coordinate integrated collaboration and to exchange experiences with mechanisms to improve the working environment for SMEs in the country.

Based on the agreement, the BP Exploration Company will provide the Khalifa Fund with financial and technical support over the next three years which will be allocated to support the fund’s activities in developing SMEs, in addition to supporting many social initiatives and programmes, like those for artisans of traditional handicrafts, the rehabilitation of prisoners and programmes for those with special needs.

The agreement will be reviewed and evaluated yearly in order to be developed in the best possible way to serve both parties.

“The agreement will give the fund the chance to get the benefit of the experience and expertise of BP in the field of developing the SMEs sector, especially in the field of technical preparation and organising specialised workshops”, said Al Darmaki.

Al Darmaki praised the grant given by BP to support the fund’s efforts in spreading the spirit of entrepreneurship and to improve the SMEs working environment.

In reply, Abdul Karim Al Mazmi said, “BP is delighted to partner with the Khalifa Fund for Enterprise Development to support its work to create a new generation of Emirati entrepreneurs and to share knowledge around SME development for the benefit of the UAE. BP believes that small and medium-sized enterprises are vital components in building a diverse and stable economy, aligned with the Abu Dhabi 2030 vision”.