ABU DHABI, (Pakistan Point News - 21st Oct, 2019) Abu Dhabi Fund for Development, ADFD, hosted a lecture at Al Ain University, AAU, and outlined the Fund’s role in promoting sustainable development in the UAE and abroad.
Speaking on the occasion, Mohammed Saif Al Suwaidi, Director General of ADFD, said, "Since its inception in 1971, ADFD has helped 90 nations around the globe achieve significant development milestones. Spanning all key sectors, the Fund’s projects support socio-economic growth in developing countries and drive the implementation of the United Nations’ Sustainable Development Goals, SDGs."
During the session, Fatima Al Balooshi, Media Advisor at ADFD, noted that over the last 48 years, the Fund has disbursed AED92 billion in development funding and investments, comprising AED43 billion in concessionary loans, AED46 billion in government grants and AED3 billion in investments. She added that ADFD recently launched the Abu Dhabi Exports Office, ADEX.
ADEX aims to support the national economy and enhance its competitiveness by providing financing and guarantees to overseas buyers from the public and private sectors looking to import goods and services from the UAE. The entity also seeks to help raise the volume of national non-oil exports and ease entry into new markets.
Al Balooshi pointed out that ADFD has adopted a policy of financing UAE private sector investments. To facilitate investment opportunities, the policy lays down the guidelines for providing funding for national private sector investments in the UAE and abroad.
He added that the strategic partnership with ADFD has also supported the education and research process for both AAU students and faculty. Moreover, Qasem explained that AAU seeks to empower and prepare students for their future careers by cultivating leadership and creative skills in the classroom and through extra-curricular activities.
ADFD’s efforts, especially in the last five years, have significantly contributed to the UAE’s retention of the prestigious title of the world’s top donor of official development assistance relative to national income between 2013 and 2017. This endorsement was reported by the Development Assistance Committee of the Organisation for Economic Co-operation and Development, OECD.