Tuesday , October 16 2018

ADFD’s total spend reaches AED84bn

ABU DHABI / WAM

In a report celebrating its 47th anniversary, Abu Dhabi Fund for Development (ADFD) announced that it has expended a total of AED84 billion to finance approximately 550 projects in 88 beneficiary countries.
Since its inception on July 15, 1971, ADFD has disbursed AED37 billion in concessionary loans, AED44 billion in UAE government grants and AED3 billion in investments.
Focussing on key socio-economic sectors including health, education, hou- sing, water, irrigation, agriculture and renewable energy, ADFD’s development funding seeks to support the national priorities of beneficiary countries, improve standards of living and drive the implementation of the United Nations’ Sustainable Development Goals (SDGs).
Along with its core operations, ADFD’s innovative partnerships with the private sector and international funding institutions have helped consolidate the UAE’s prominent status among global foreign aid providers. The country has retained its position as the world’s largest donor of official development
assistance relative to national income for the fifth year in a row.
Speaking on the occasion, Mohammed Saif Al Suwaidi, Director-General of ADFD, said, “The outstanding results over the past 47 years reflect ADFD’s strategic appro-ach to implementing the UAE’s foreign development goals and assisting developing countries in addressing their socio-economic challenges.”
To date, ADFD allocated as much as AED2.5 billion to support vital healthcare projects across the developing world.

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