|19 January, 2020

ADFD pens agreement to allocate $20mln to AGFUND

The UAE is one of AGFUND’s founding countries

Image used for illustrative purpose. A pile of AED one dirham coins is seen in Dubai.

Image used for illustrative purpose. A pile of AED one dirham coins is seen in Dubai.

REUTERS/Jumanah El-Heloueh

UAE – Mubasher:Abu Dhabi Fund for Development (ADFD), the leading national entity for economic development aid, has signed an agreement to provide $20 million (AED 73 million) to the Arab Gulf Programme for Development (AGFUND), a regional organisation aiming to solve human development problems.

The agreement was inked by ADFD director-general, Mohammed Saif Al Suwaidi, and vice chairman of AGFUND, Youssef Al Bassam, at ADFD headquarters in Abu Dhabi, the Emirates News Agency (WAM) reported.

Since 1982, the UAE, one of the programme’s founding countries, has supported its objectivities through its total contributions worth $37 million (AED136 million).

Al Suwaidi, said: "The Fund works alongside its partners and in cooperation with international organisations and funding institutions to assist beneficiary countries in achieving their national priorities.”

He added: “In doing so, we also contribute to ongoing efforts to realise the United Nations’ Sustainable Development Goals, SDGs."

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.