Abu Dhabi-UAE: His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), today delivered a lecture at Majlis Al Manhal titled ‘Abu Dhabi Fund for Development: Pioneering and Sustainable Development’. Organised by the Majlis Affairs Office at Abu Dhabi Crown Prince’s Court, the lecture drew the presence of His Excellency Ahmad Jumaa Al Zaabi, Minister of the Federal Supreme Council at the Ministry of Presidential Affairs, and several officials and citizens.
Al Suwaidi began the lecture by thanking the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of Abu Dhabi Fund for Development’s (ADFD’s) Board of Directors, for their wise directives and efforts in supporting global development work and helping the international community to achieve the sustainable development goals.
Al Suwaidi said: “We cannot speak about ADFD’s achievements over the past 48 years without mentioning the wisdom and vision of the founding father of the UAE, late Sheikh Zayed bin Sultan Al Nahyan, who realised early on the importance of establishing the Fund to support people around the world in achieving sustainable growth.”
He added: “Abu Dhabi Fund for Development was established in 1971 as a pioneering national financial institution that helps step up efforts to achieve sustainable development locally and internationally. ADFD offered support to developing countries through financing and investments that played a vital role in the plans and development programmes of these countries. The AED102 billion in funding allocated by ADFD to date have benefitted 94 countries around the globe.”
Al Suwaidi pointed out that ADFD funds in developing countries primarily supported infrastructure projects, the agriculture sector, renewable energy, transportation and communications and the construction of power stations and airports, as well as the education and health sectors.
His Excellency pointed out that supporting the national economy and enhancing its competitiveness are strategic objectives for ADFD within the economic diversification policy framework adopted by the UAE. He added that ADFD is keen to contribute to supporting the national companies in extending their presence in diverse global markets, through leveraging investment opportunities and economic partnerships with beneficiary countries.
He added: “In order to achieve those objectives, ADFD has launched the Abu Dhabi Exports Office (ADEX), which provides a leading credit umbrella to encourage national companies to benefit from strong export opportunities and enhance their ability to market Emirati goods and services abroad.”
Referring to the topic of community support, His Excellency highlighted that ADFD adopted a supporting strategy for local community institutions to improve their community-focused initiatives and activities. ADFD has supported 63 initiatives of more than 20 national institutions that serve various classes of society. ADFD’s initiatives focus on supporting health, education, technology, innovation and scientific research, among other sectors.
About Abu Dhabi Fund for Development (ADFD)
Abu Dhabi Fund for Development (ADFD) is a leading national entity for economic development aid owned by the Abu Dhabi government. Established in 1971, it aims to help emerging countries by providing concessionary loans to finance sustainable development projects as well as administering long-term investments and direct contributions. In addition to managing development grants offered by the Abu Dhabi government, ADFD has adopted a policy of supporting the national economy and financing UAE private sector investments. Since its inception, ADFD has marked developmental milestones in 94 developing countries. Spanning the last 48 years, the Fund's development projects and investments, valued at AED102 billion, have helped the international community achieve sustainable economic growth as well as drive the implementation of the United Nations’ Sustainable Development Goals (SDGs).
© Press Release 2020