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To Draw Participation of National and Regional Development Funds
Abu Dhabi - Abu Dhabi Fund for Development (ADFD) is set to host the 75th ordinary meeting of national and regional development institutionsat its headquarters in Abu Dhabi from 23 to 25 March, 2015.
Aimed at promoting collaboration and better coordination among development agencies in supporting development projects, the 3-day meeting will seek to boost partnership among members of the committee to ensure the effectiveness of aid programs, especially in co-financing development projects. In addition, the meeting will facilitate the exchange of ideas and views on funding activities through agreeing on broad principles of development issues.
The Coordina¬tion Group comprises the Abu Dhabi Fund for De¬velopment, the Kuwait Fund for Arab Economic Development, the Saudi Fund for Development, Qatar Development Fund, along with a number of regional development agencies including the Arab Fund for Economic and Social Development, the Islamic Development Bank Group, OPEC Fund for International Development, the Arab Bank for Economic Development in Africa,the Arab Gulf Program for Development, and the Arab Monetary Fund.
His Excellency Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development (ADFD), said: "ADFD is honored to host the 75thCoordination Group meeting in Abu Dhabi that aims to highlight our collaborativejourney in the arena of international development. In hosting this important event, we seek to intensify our developmental efforts and enhance the effectiveness of aid programs in supporting sustainable development across the world. In addition, particularemphasis will be placed on infrastructure and social development projects thatwill in turn accelerate economic and social development across the developing world."
Established in 1975, the Coordination Group aims to promote collaboration and coordination among the funding institutions in evaluating, financing, monitoring and management of project implementation. It also seeks to achieve integration of efforts and standardization of funding procedures and financial policies among its members.
Abu Dhabi earlier played hostsin 2010 when the members converged in the UAE capital for the 67thmeeting of the Coordination Group.Sudanese capital Khartoum heldthe last edition from 15-17 September, 2014.
Established in 1971, ADFD is a national organization responsible for assisting developing countries through administering loans and direct grant aid on behalf of the Abu Dhabi government. The fund aims to promote sustainable socio-economic development and private sector growth in target countries. Since its inception, ADFD has overseen the provision of AED64 billion towards financing 429development projects in 73countries around the world.
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© Press Release 2015
