Abu Dhabi Fund for Development (ADFD) has, since its establishment in 1971, financed thousands of development projects that significantly impacted millions of lives in 97 developing countries around the world.

The projects have contributed to advancing economic growth, improving access to healthcare and education, and building modern infrastructure, including road, railway and water networks as well as airports and housing projects. They also supported innovation and adoption of advanced technology in renewable energy and other sectors.

Amounting to AED102 billion ($27.7 billion) to date, ADFD’s development finance, including provision of concessional loans and government grants, became a unique model of supporting developing countries in overcoming challenges while strengthening economic partnerships.  

Despite the global economic downturn due to the Covid-19 pandemic, the Fund contributed to financing 12 development projects in 2020 with a total value of AED2.8 billion, benefiting 10 developing countries. The support focused on crucial sectors, including renewable energy, transport, housing, healthcare and agriculture.

Mohammed Saif Al Suwaidi, Director General of ADFD, said: “We attribute the success of ADFD’s efforts to the unwavering support of our wise leadership that has enabled the Fund to rise to a prominent position among the most prestigious international development organisations.

“Over the course of its development journey, ADFD has gained extensive experience in development and investment activities and built strategic partnerships with a host of regional and global financial institutions. During the past five decades, it has marked multiple pioneering accomplishments in the UAE and in developing countries that have advanced the UN’s Sustainable Development Goals (SDGs), improved millions of lives and created new job opportunities.”

“As we approach the 50th anniversary of the establishment of the UAE, we look forward to implementing innovative development programs and plans that will bolster ADFD’s global positioning while achieving new milestones in sustainable development, and increasing efficiencies in financing and investing in key economic sectors,” Al Suwaidi added.

ADFD-funded projects in developing countries focus on vital sectors, including education, healthcare, transportation, mobility, energy, agriculture, irrigation, housing and infrastructure. The Fund prioritizes the financing of development projects that have a direct impact on people’s lives and livelihoods. - TradeArabia News Service