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20 May 2024

Abu Dhabi Fund for Development approves new financing requests

By Wam

H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, Wednesday chaired the board meeting of the Abu Dhabi Fund for Development at the Presidential Affairs Ministry's premises, in the presence of H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and ADFD Deputy Chairman, along with the Fund board members and Director-General.

The meeting addressed the status of the projects being funded by the ADFD in several countries along with future plans. A number of funding requests involving developmental projects overseas has been approved in line with the fund's budget and action plan.

"The Fund is pursuing the same approach pioneered by late Sheikh Zayed bin Sultan Al Nahyan to finance the sustainable development drive in a number of developing countries and ensure decent life for their peoples," said Sheikh Mansour, who is also the ADFD Chairman.

"The success achieved by the Fund over the past years is attributed to the significant support provided by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, that helped the fund expand its activities and benefit the international community."

Sheikh Mansour underlined the ADFD's keenness to continue to finance and carry out developmental projects that significantly contribute to meeting the socio-economic needs of sisterly and friendly countries.

For his part, ADFD Secretary-General Mohamed Saif Al Suwaidi, noted that the Fund is implementing Sheikh Mansour's directives to efficiently support the national economy and sustain the country's diversification efforts in line with the UAE Vision 2021 and Abu Dhabi Economic Vision 2030.

Since its establishment, ADFD provided AED83 billion in funds and investments, from which 88 countries from all over the world benefited.