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Tawazun unit launches $190m venture debt programme for SMEs ABU DHABI, February 24, 2021 Strategic Development Fund (SDF), the investment arm of Tawazun Economic Council, has announced the successful funding of eight supply chain contracts and three capex contracts towards 5 SMEs through its Venture Debt programme that was launched in November 2019.
The total allocated fund for the programme is AED700 million ($190 million) with funding ranging from AED10 to 55 million for an SME.
The programme aims to support and enable the growth of UAE national SMEs operating in strategic sectors, by providing incentivized financial solutions in collaboration with UAE banks.
The programme has expanded its mandate to include businesses operating in the aviation industry with viable projects and added value content towards the UAE economy. ....
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SDF, EOS Form A Partnership To Develop A Cutting-edge Multi-platform, Light-weight, 14.5 X 114 Mm Weapon System Mon 22nd February 2021 | 05:15 PM ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 22nd Feb, 2021) SDF, the investment arm of Tawazun Economic Council, and EOS Defence Systems Pty Limited (EOS) have signed an agreement to establish a JV with equal partnership, which would design and develop a new multi-platform Light-Weight 14.5 x 114 mm Chain Driven Machine Gun in the UAE, with the involvement of international and local engineering and designing expertise. The JV will utilize the latest technologies in design and manufacturing to provide to the market a superiorWeapon System compared to the existing conventional 14.5 x 114 mm products. The new weapon system will provide lighter weight, improved accuracy, lower stoppage, reduced recoil and enhanced logistic support. ....
Tawazun, EOS to set up weapon manufacturing unit in UAE DUBAI, February 22, 2021 Strategic Development Fund (SDF), the investment arm of Tawazun Economic Council, has signed an agreement with EOS Defence Systems, Australia’s leading defence and technology companies, to set up a joint venture firm with equal partnership, that would design and develop a new multi-platform Light-Weight 14.5 x 114 mm Chain Driven Machine Gun in the UAE.
The JV, with the involvement of international and local engineering and designing expertise, will utilize the latest technologies in design and manufacturing to provide to the market a superior Weapon System compared to the existing conventional 14.5 x 114 mm products. ....