ADFD joins Arab Coordination Group effort to provide $10bn Covid-19 support for developing countries

Joint allocation will help nations develop immediate pandemic response and support economic recovery


Abu Dhabi:  Abu Dhabi Fund for Development has joined the Arab Coordination Group (ACG) Institutions’ US$10 billion commitment to help developing countries respond to the Covid-19 pandemic and help their economic recovery.

The support, agreed at a virtual ACG meeting on May 18,  will initially focus on helping developing countries obtain the medical supplies and protective equipment they need. It will also help beneficiaries develop effective interventions to combat the pandemic and its economic effects.

His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development, who attended the ACG virtual meeting and delivered a speech on behalf of the Fund, said: “Developing countries face a grave situation. The loss of lives and the sheer scale of suffering is saddening. Developing countries urgently need swift, effective support, not only to develop their responses to the pandemic, but to deal with its economic aftermath.

“Working with our partners in the Arab Coordination Group enables a holistic, coordinated strategy, allowing beneficiaries to use resources optimally in their immediate responses and while building their long-term resilience.”

The $10bn support will include technical assistance, grants, concessional loans, financing, trade insurance and capacity development programmes.

The priority during the response phase will help nations’ health sectors, including provision of necessary medical supplies and equipment.

Longer-term support will support both public and private organizations in important economic sectors such as agriculture, food security, energy, education and support for micro-, small- and medium-sized enterprises (MSMEs).

Al Suwaidi added: “The pandemic impacts everyone across the world. It requires a coordinated response. At the same time, different countries have their own resources and their own needs. This coordinated approach, guided by the principles of economic resilience and UN sustainable development goals, enables each beneficiary country to get the support it needs.

“Ultimately, this approach helps everyone. We live in a globalized world. Helping developing countries get the support they need to build their resilience and their economic recovery helps to support the world’s economic recovery.

“Abu Dhabi Fund for Development and its partners in the ACG Institutions remain committed to extending support in an inclusive manner, to help developing countries bridge inequalities and ensure support reaches the most vulnerable people.”

Abu Dhabi Fund for Development entered a partnership with the Arab Coordination Group in 1975. The ACG promotes coordination and collaboration of projects between its members, which include four national funding agencies and six regional development agencies.

Abu Dhabi Fund for Development actively cultivates partnerships with other funding organizations. Working with partners enhances the effectiveness of support by optimizing use of resources, joint financing and knowledge sharing.


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 AED80 billion in development projects across 88 countries. 

For more information, please contact:
Fatima Al Blooshi
Head of Media & Comm.
Abu Dhabi Fund for Development
Tel: 02 6939 533
Fax: 02 6677 070

Send us your press releases to 

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases