Abu Dhabi May 22 2023: The Abu Dhabi Fund for Development (ADFD) made remarkable milestones with its financing and investments totalling more than AED189.7 billion, which have benefited 104 nations across continents, by the end of December 2022, according to its annual report 2022 (Global Partner for Sustainable Development).
Total investment reached AED 12.58 billion in seven Investment Instruments.By investing in strategic companies in the UAE and partner countries, ADFD plays a crucial role as a driver of sustainable development, in addition to replenishing its own financial resources. Through these investments, ADFD ensures economic stability of the beneficiary nations. Thus far, the Fund has invested in 15 companies. The investments have been made in key sectors including industry, tourism, agriculture and services.
His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Minister of Presidential Court and Chairman of ADFD’s Board of Directors, said in a forward in the report that:” The United Arab Emirates has made remarkable progress in the field of global development, building on the solid principles established by our wise leadership since the era of our founding father, the late Sheikh Zayed bin Sultan Al Nahyan. His vision and dedication laid the foundation for
the UAE’s developmental aid policy, which aims to support the international community, advance their economies, and achieve their development goals. This policy continues to be followed by the leadership of His Highness Sheikh Mohammed bin Zayed Al Nahyan, the President of the UAE.”
‘’With relentless efforts and unwavering commitment, Abu Dhabi Fund for Development (ADFD) has achieved remarkable successes that have cemented the UAE’s position as a global leader and role model for development. We are proud to have brought about societal regeneration across developing countries, driven economic growth, and improved the quality of life. ADFD has also played a vital role locally, through a comprehensive strategy that supports the UAE government’s ambitious vision for the national economy’s growth and sustainability,” His Highness Sheikh Mansour bin Zayed added.
‘’ By empowering the private sector and prioritizing national companies, ADFD has boosted national exports and enhanced the competitiveness of Emirati products in the global market. I am confident that ADFD’s future is bright, and its team will continue to achieve exceptional results reflecting the UAE’s vision and the wise leadership’s aspirations for sustainable development locally and in developing countries. This will allow our country to maintain its leading position in global development and ensure for a prosperous future for all,” Sheikh Mansour concluded.
For his part, H.H Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and Vice Chairman of ADFD’s Board of Directors, commented that the ADFD’s outstanding achievements over the past year have made significant contributions to local and global economic development. These accomplishments are built upon the foundations
laid by our visionary leadership, who are committed to supporting the international community. ADFD is committed to redoubling its efforts to achieve even greater milestones, in accordance with the directives of the President, His Highness Sheikh Mohamed bin Zayed Al Nahyan.
‘’By doing so, we can help societies in developing countries achieve their development goals and aspirations, and empower them to build a better future for themselves.
ADFD’s leading role and notable achievements in economic and developmental affairs have significantly strengthened our partnerships with countries around the world, as we operate in over 100 countries across multiple continents,” Sheikh Abdullah said.
‘’The UAE is committed to maintaining these international partnerships and supporting the national economies of beneficiary nations through our strategic projects. We also appreciate ADFD’s pioneering role in supporting the national economy, enhancing the competitiveness of UAE exports in foreign markets, and providing flexible financing programs to strengthen the UAE’s private sector and help it achieve its strategic objectives.”
Through ADFD’s remarkable journey, he added:”We are confident that our dedicated staff will continue to position the UAE as a global leader in sustainable development. We will increase our investments in strategic projects that contribute to building prosperous futures for societies across various nations.”
Mohammed Saif Al Suwaidi, Director General of the ADFD, said:” In 2022, ADFD adopted a policy to focus its attention on supporting partner nations, boosting the national economy, and enhancing its competitiveness, a culmination of over 51 years of exceptional efforts in sustainable development and economic growth. As we celebrate new milestones each year, we reflect on the noble ideals instilled in us by our founding fathers, the late Sheikh Zayed bin Sultan Al Nahyan and the late Sheikh Khalifa bin Zayed Al Nahyan. They founded and nurtured this remarkable national institution, transforming it into one of the most prominent and significant development organizations, shaping its role in supporting the international community and empowering it towards achieving sustainable development goals.”
‘’ We take pride in the remarkable milestones achieved by ADFD, with its financing and investments totalling more than AED189.7 billion, which have benefited 104 nations across continents. The strategic projects it funded have contributed to the economic and social development of partner nations. The UAE’s visionary leadership has been instrumental in expanding ADFD’s activities and charting new paths for development and progress. These paths include supporting our national economy, enhancing the competitiveness of UAE exports in global markets, and stimulating the private sector’s role as a strategic partner in ADFD’s developmental efforts.”
‘’ We look forward with confidence to the next year as we continue our journey of economic and social development, locally and in developing nations. Our goal is to achieve our strategic objectives and future aspirations to ensure that ADFD remains among the most prominent global developmental and economic institutions,” he concluded.
Concessionary Loans
Abu Dhabi Fund for Development (ADFD) maintained its commitment in 2022 to providing concessionary loans to developing nations so they could achieve their developmental agendas. The five loans totaling AED2.56 billion benefited Bahrain, Argentina, Uzbekistan, Nigeria and Jordan. The ADFD-funded infrastructure
projects focused on sustainable economic development in partner nations.
Development Grants
Managed by ADFD, the grants provided by the UAE government are key to enabling partner countries to utilize the power of sustainable economic development. In 2022, ADFD provided four such grants totaling AED674.7 million to Azerbaijan, Somalia, Uzbekistan, and the Maldives. They supported key economic sectors in these countries including transport, energy, housing, and agriculture. Their impact was directly evident in the improvement of the quality of life.
UAE Government Contribution to the Gulf Development Fund
The strategic projects, funded by the United Arab Emirates and managed by ADFD as part of the Gulf Development Fund program included Jordan, Morocco, and Bahrain. These initiatives helped achieve economic and social development in these countries. The total value of the projects amounted to AED18.4 billion (US$67.5
billion).
Renewable Energy
By 2022, ADFD financed 73 renewable energy projects with a total value of more than AED4.7 billion, which benefited 52 partner countries by enabling them to meet the growing energy demand in a safe and sustainable manner. The projects that harnessed hydel, solar and wind energy also helped improve the economy and quality of life in developing countries, reduce CO2 emission and achieve sustainable development goals, especially SDG 13, which also calls for action to tackle climate change. At the local level, ADFD has been supporting the UAE’s effort to prioritize clean-energy investments and other innovative solutions to tackle climate change, stimulate economic growth and build a more sustainable and resilient future for the global community.
