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ABU DHABI, 22nd May, 2023 (WAM) — According to Abu Dhabi Fund for Development’s (ADFD) Annual Report 2022 (Global Partners), Abu Dhabi Fund for Development’s (ADFD) financing and investments totaled more than AED189.7 billion by the end of December 2022, benefiting 104 continents countries achieved notable milestones. sustainable development). The total investment in the seven investment vehicles reached AED 12.58 billion. By investing in strategic companies in the UAE and partner countries, ADFD plays a vital role as a driver of sustainable development, in addition to supplementing its own financial resources. Through these investments, ADFD ensures economic stability in beneficiary countries. The fund has invested in 15 companies so far. These investments have been made in key sectors including industry, tourism, agriculture and services.
His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Minister in the Presidency and Chairman of the ADFD Board of Directors, said in the foreword to the report: “The United Arab Emirates has made remarkable progress in the field of global development, building on the Sheikh Zayed bin Sultan Al Nahyan built on the solid principles established by our wise leadership.
The UAE’s development assistance policy aims to support the international community, promote economic development and achieve development goals. The leadership of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan continues to follow this policy. “
”With relentless hard work and unwavering commitment, the Abu Dhabi Fund for Development (ADFD) has achieved remarkable success, cementing the UAE’s position as a global leader and role model for development. We take pride in reviving societies, driving economic growth and improving quality of life in developing countries. ADFD also plays an important role on the ground through an integrated strategy that supports the UAE Government’s ambitious vision for national economic growth and sustainability,” added His Highness Sheikh Mansour bin Zayed.
” By empowering the private sector and prioritizing domestic companies, ADFD boosts the country’s exports and enhances the competitiveness of UAE products in the global market. I am confident that the future of ADFD is bright and its team will continue to deliver extraordinary results, reflecting the UAE’s vision and the desire of the wise leadership for sustainable development locally and in developing countries. This will keep our country at the forefront of global development and ensure a prosperous future for all,” concluded Sheikh Mansour.
His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and Vice-Chairman of the ADFD Board of Directors, commented that ADFD’s outstanding achievements over the past year have contributed significantly to local and global economic development.These achievements are based on
Laid out by our visionary leadership who are committed to supporting the international community. ADFD is committed to redouble its efforts to achieve greater milestones as directed by President His Highness Sheikh Mohamed bin Zayed Al Nahyan.
”By doing this, we can help societies in developing countries achieve their development goals and aspirations, and empower them to build a better future for themselves.
ADFD’s leading role and notable achievements in economic and development matters have significantly strengthened our partnerships with countries around the world as we operate in more than 100 countries across multiple continents,” said Sheikh Abdullah.
”The UAE is committed to maintaining these international partnerships and supporting the national economies of beneficiary countries through our strategic projects. We also appreciate ADFD’s pioneering role in supporting the national economy, enhancing the competitiveness of UAE exports in foreign markets, and providing flexible financing schemes to strengthen the UAE private sector and help it achieve its strategic goals.
Through ADFD’s remarkable journey, he added: “We are confident that our dedicated workforce will continue to position the UAE as a global leader in sustainable development. We will increase our investments in strategic projects that help build a prosperous future for our societies .
Mohammed Saif Al Suwaidi, Director General of ADFD, said: “In 2022, ADFD has adopted a policy to focus its attention on supporting partner countries, boosting national Development and economic growth. As we celebrate new milestones each year, we reflect on our founding fathers, the late Sheikh Zayed bin Sultan Al Nahyan and the late Sheikh Khalifa bin Zayed The lofty ideals that Al Nahyan instilled in us. They created and nurtured this remarkable national institution, transformed it into one of the most famous and important development organizations, shaped its role in supporting and enabling the international community role in relation to the Sustainable Development Goals.
” We are proud of ADFD’s remarkable milestone, with financing and investments totaling over AED 189.7 billion, benefiting 104 countries across all continents. The strategic projects it finances contribute to the economic and social development of partner countries. The UAE’s visionary leadership has been instrumental in expanding ADFD’s activities and charting new paths for growth and progress. These avenues include supporting our national economy, enhancing the competitiveness of UAE exports in global markets, and stimulating the role of the private sector as a strategic partner in ADFD’s development efforts.
” We look forward to next year with confidence as we continue our journey of economic and social development locally and in developing countries. Our aim is to achieve our strategic goals and future aspirations to ensure that ADFD remains one of the preeminent global development and economic institutions,” he concluded.
preferential loan
The Abu Dhabi Fund for Development (ADFD) maintained its commitment to provide concessional loans to developing countries in 2022 to achieve their development agenda. Five loans totaling AED 2.56 billion benefited Bahrain, Argentina, Uzbekistan, Nigeria and Jordan. ADFD Funded Infrastructure
The project focuses on sustainable economic development in partner countries.
development grant
Administered by ADFD, the grant from the UAE Government is key to enabling partner countries to harness the power of sustainable economic development. In 2022, ADFD has provided four such grants totaling AED674.7 million to Azerbaijan, Somalia, Uzbekistan and Maldives. They support key economic sectors in these countries, including transportation, energy, housing and agriculture. Their impact is directly reflected in improved quality of life.
Contribution of the UAE Government to the Gulf Development Fund
Strategic projects funded by the United Arab Emirates and managed by ADFD as part of the Gulf Development Fund program include Jordan, Morocco and Bahrain. These initiatives have helped these countries achieve economic and social development.These projects have a combined value of AED 18.4 billion (US$ 67.5
billion).
renewable energy
By 2022, ADFD has financed 73 renewable energy projects with a combined value of more than AED4.7 billion, benefiting 52 partner countries by enabling them to meet growing energy demands in a safe and sustainable manner. Projects harnessing hydro, solar and wind energy also help improve economies and quality of life in developing countries, reduce carbon dioxide emissions and achieve the Sustainable Development Goals, especially SDG 13, which also calls for action on climate change . At the local level, ADFD has been supporting the UAE’s efforts to prioritize clean energy investments and other innovative solutions to combat climate change, spur economic growth and build a more sustainable and resilient future for the international community.
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