KUWAIT: The Acting Director-General of the National Fund for Small and Medium Enterprise Development, Heba Al-Refai, announced Sunday that 1,040 projects are currently active under the fund’s sponsorship, spanning across various sectors of the economy.
Speaking to the Kuwait News Agency (KUNA), Al-Refai said that commercial sector projects make up about 40 percent of the fund’s portfolio, matched by another 40 percent from the service sector. Industrial projects account for 14 percent, while craft and agricultural projects represent four percent and two percent respectively. She noted that these projects form a key part of Kuwait’s entrepreneurship support system, with the fund prioritizing technical and administrative backing to help ensure their operational efficiency, sustainability, and long-term growth.
Reviewing policies
Al-Refai emphasized the fund’s efforts over the past period to diversify its financing portfolio to meet the evolving needs of the local market. She also revealed that the fund is currently reviewing its policies and operational procedures to enhance the effectiveness of its support and to achieve greater developmental impact. She stressed that these efforts are part of a broader commitment to align with best practices and applicable regulations, while also boosting collaboration with several government entities to support entrepreneurs and startups.
Al-Refai praised the fund’s ongoing cooperation with entities such as the Ministries of Commerce, Finance, and Information, the Public Authority for Industry, the Public Authority of Manpower, the Customs Directorate, the Central Agency for Public Tenders and the Ministry of Social Affairs. This integrated approach, she said, aims to simplify procedures and create a more supportive environment for the growth of small and medium-sized enterprises (SMEs) in Kuwait.
Launch of “Mubader Plus”
Highlighting recent initiatives, Al-Refai spoke about the “Mubader Plus” program, designed to empower SME owners and equip them with the skills needed for a knowledge-driven economy. The four-month program included specialized workshops on strategic content development, marketing, legal and accounting practices, and market analysis. It also featured one-on-one mentoring sessions with expert advisors and consultants.
Al-Refai described “Mubader Plus” as a reflection of the fund’s belief that true investment lies not only in financial support but also in building entrepreneurs’ capacities for understanding, analysis, and management. She emphasized that the program arrived at a critical time, responding to rapid economic and technological changes, and aimed at enabling young Kuwaiti talents to compete, innovate, and adapt. The initiative aligns with Kuwait’s broader vision to support a knowledge- and innovation-driven economy, preparing entrepreneurs to overcome challenges and sustain growth.
Updated loan repayment
Al-Refai also highlighted a major change to the Fund’s loan repayment policy. Under the new system, entrepreneurs will now benefit from the full 15-year repayment period without counting grace periods or installment deferrals within that timeframe. She said the amendment was made in direct response to the needs of small and medium project owners, and is already being implemented, with the Fund now accepting applications under the new terms. Al-Refai affirmed that the decision aims to ease financial pressure on entrepreneurs, enhance project sustainability, and provide clearer regulatory frameworks to support Kuwait’s next generation of business leaders. — KUNA
