|
||||||||||||
Abu Dhabi Fund For Development Offers AED 23 bn In Loans And Grants To 53 Sisterly And Friendly Countries |
||||||||||||
|
The total amount of loans, grants and investments financed by Abu Dhabi Fund for Development (ADFD) and Abu Dhabi Government and managed under the supervision of ADFD during the past 37 years stood at nearly AED 23 billion for 273 development projects in 53 developing countries around the world. In 2009 alone, the ADFD offered loans in tune of AED 334.7 million to projects in Eritrea, Guinea, Benin, Tanzania and Burkina Faso. Abu Dhabi Fund for Development was established by directions of the late Sheikh Zayed Bin Sultan Al Nahyan "May Allah bless his soul" on July 1971 with its head office in Abu Dhabi, with the aim to provide assistance to the developing countries. This initiative came out of his strong belief and profound realization of the necessity to extend assistance to Arab, Islamic, and friendly developing countries to face the difficulties, challenges, and economic development problems. The main activity of the Fund is to provide economic assistance in form of concessional loans, grants or contributions to projects capitals. Under the prudent and wise leadership of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the United Arab Emirates, Abu Dhabi fund shall continue its benevolent march and its policy of extending economic help to support and backing up the regional and international efforts aiming at achieving development goals in developing countries and fairly participating in the distribution of world resources. The ADFD’s core mission focuses on helping developing countries achieve sustainable economic growth and reduce poverty by providing financial resources, forging partnerships in the public and private sectors, and adopting international best practices to ensure aid effectiveness. In addition to its activities, ADFD also manages the loans and grants of Abu Dhabi Government, as it plays an essential role in designing, executing, supervising and assessing the projects financed by the government. Arab, African and Asian countries received about 78.6, 5.7 and 4.4 per cent respectively of the total loans and grants provided by the Fund and Government of Abu Dhabi, according to a report issued to mark the 38th national day of the UAE. Acting Director General of ADFD Mohammed Saif Al Suweidi, said :’’ the fund has made it of its top priorities to provide economic assistance to Arab, African, Asian and other countries to support their economic development in the form of concessional loans or contributions to the capitals of their projects. ’’The ADFD has stakes up to 100 per cent in some of 12 companies,’’ he said. In addition to that, ADFD supervises the management of the loans and grants offered by Abu Dhabi Government to its friends of countries. ADFD has set its strategy on to the following pillars: *Providing economic assistance to the developing countries. Promoting a distinguished image of Abu Dhabi Emirate and its Government through development projects. *Enhancing capabilities by supporting programs which increase the possibilities of achieving the sought development in these countries. Encouraging relations and local partnerships with the developing countries. *Qualifying and developing national human resources. |
||||||||||||
