Abu Dhabi-UAE:– As part of its mission to raise awareness about the importance of sustainable development funding, Abu Dhabi Fund for Development (ADFD), the leading national entity for economic development aid, delivered an educational lecture at Abu Dhabi University (ADU). The talk highlighted the Fund’s crucial role in promoting sustainable socio-economic development in the UAE and abroad.
Speaking on the occasion, His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, said: “At ADFD, we are proud to work closely with the nation’s young people in supporting them with the knowledge they require to thrive in their careers and empowering them to continue the UAE’s journey of excellence.”
He added: “A well-rounded education is crucial in building the next generation of leaders. Our endeavours in achieving this priority – both within the UAE and abroad – have met with much success. Through periodically hosting lectures and workshops such as this one, we reinforce our dedication to developing talent and enabling students to learn from and interact with real-life role models.”
Addressing ADU students and faculty during the lecture, 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 also touched upon the significance of the Abu Dhabi Exports Office (ADEX) that ADFD launched in September 2019. ADEX aims to support the national economy and enhance its competitiveness through 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.
Making a business case for sustainable funding that is today also a key economic sector, Al Balooshi pointed out that ADFD follows formalised policy guidelines in providing funding for national private sector investments in the UAE and abroad with the objective of facilitating investment opportunities.
Welcoming the ADFD team, Dr Hazem Marashdeh, Head of the Accounting and Finance Division and Associate Professor of Finance at ADU, highlighted the Fund’s crucial contribution to advancing sustainable development efforts regionally and globally. He also stressed the importance of nurturing cooperation between ADFD and ADU in several fields.
The lecture concluded with a lively Q&A session with the university students.
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).
About Abu Dhabi Fund for Development (ADFD)
Abu Dhabi Fund for Development is a national organisation owned by the Abu Dhabi government. Established in 1971, its purpose is to help emerging countries by providing concessionary loans to finance sustainable development projects alongside other long-term investments and direct contributions. In addition, the Fund manages government grants offered by the Abu Dhabi government and monitors the course of the relevant projects. To date, it has invested around AED92 billion in development projects across 90 countries.
© Press Release 2019