ABU DHABI, 23rd March, 2022 (WAM) — The Board of Directors of the Abu Dhabi Fund for Development (ADFD) held a meeting under the chairmanship of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and ADFD Board Chairman, and in the presence of the board members and ADFD Director-General. His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Deputy Chairman of the ADFD Board, attended the meeting virtually.
Addressing the meeting, Sheikh Mansour articulated the key role assumed by the ADFD in supporting developing countries to achieve their developmental goals, noting that the ADFD’s efforts over the past years have reflected positively on consolidating the UAE’s prestigious status in the field of global development works.
He pointed to the strategic role played by the Fund in supporting Emirati companies by giving them significant opportunities that enable them to expand their scope of business outside the UAE, in addition to supporting the national economy and enhancing its competitiveness by providing innovative financing solutions to develop national exports and reach out to global markets.
During the meeting, the board members reviewed ADFD’s performance, the status of the projects funded in a number of beneficiary countries, and future plans. They agreed on financing a number of developmental projects that meet ADFD’s loan terms and conditions.
For his part, Mohammed Saif Al Suwaidi, ADFD Director-General thanked ADFD Chairman, Deputy Chairman and members for their tireless efforts and continuous support of the Fund’s mission, and their constant follow-up of its future programmes, plans and goals. He highlighted the keenness of the UAE leadership to enable the Fund to achieve its goals and objectives in promoting sustainable economic development within the UAE and in developing countries.
“The Fund contributes effectively to supporting the national economy, keeping pace with the significant milestones achieved by the UAE over the past fifty years, and to helping the nation steadily move forward towards a new phase of its inspirational developmental drive over the next five decades,” added the ADFD Director-General.
ADFD has provided AED105 bn in development funding for strategic projects in vital sectors in 103 countries worldwide, with the volume of its investments amounting to AED11 billion