ADFD's Milestone Achievement: AED 216 Billion in Development Financing
In a feat of economic stewardship, the Abu Dhabi Fund for Development achieved extraordinary results in 2023, surpassing AED 216 billion in cumulative development and investment financing. This increase in operational activities underscores ADFD's important role in supporting economic and social development initiatives globally.
The latest annual report released by ADFD highlighted its contributions, with total development financing reaching AED 120.5 billion by December 2023. This includes AED 66 billion in concessionary loans and AED 54.5 billion in government grants, benefiting 106 countries across continents. These funds have played a crucial role in advancing development objectives, spurring economic growth, and enhancing the quality of life for communities worldwide.
Notably, ADFD's efforts extended to supporting Emirati companies through the Abu Dhabi Exports Office, allocating approximately AED 3.2 billion between 2020 and 2023 to support national exports and expand their global presence.
On the investment front, ADFD's total investments amounted to AED 12.6 billion, spread across various sectors and 26 countries. Moreover, the Fund deposited AED 78 billion with Central Banks in developing nations and allocated AED 5.3 billion in financing to support investment activities in beneficiary countries.
These achievements states the commitment of the leadership to support ADFD's objectives, solidifying its position as a global player in advancing sustainable development.
In the Words of His Highness Sheikh Mansour bin Zayed Al Nahyan:
His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the UAE, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board of Directors of ADFD, emphasised the role played by the Fund in sustainable development. He highlighted the support of the leadership, instrumental in ADFD's milestones locally and globally.
Recognising the challenges faced by developing countries, His Highness Sheikh Mansour mentioned ADFD's role in providing essential funds and establishing global partnerships to lead sustainable development and economic activity.
UAE as a Global Role Model:
His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and Deputy Chairman of the Board of Directors of ADFD, hailed the UAE as a global exemplar of sustainable partnerships and international cooperation. He emphasised ADFD's important role in advancing economic and social development worldwide, underpinned by the UAE's forward-looking vision and leadership guidance.
Economic Boost for Communities:
According to His Excellency Mohamed Saif Al Suwaidi, Director General of ADFD, the remarkable achievements of the Fund in 2023 are attributed to the steadfast support of the leadership in attaining sustainable development objectives. He reiterated ADFD's commitment to supporting the national economy and using all available resources to help the domestic private sector.
Strategic Development Projects and Diversified Investments:
ADFD remains committed to enhancing the economic and social development of developing countries through priority development projects across vital sectors. Its diversified investments aim to contribute to the financial resources of beneficiary countries, generating job opportunities and improving living standards.
Supporting the National Economy:
ADFD's initiatives such as the Abu Dhabi Exports Office and financing for national private sector companies exemplify its dedication to supporting the national economy. By providing essential funding and incentives, ADFD enhances the competitiveness of the private sector, contributing to the economic development of the UAE.
In summary, ADFD's remarkable achievements in 2023 stated its commitment to sustainable development and economic prosperity, both locally and globally, further solidifying the UAE's esteemed position on the global stage.
