From: Biniam Haile \(SWE\) (eritrea.lave@comhem.se)
Date: Mon Dec 07 2009 - 16:27:08 EST
ADFD offers AED 23 bn in loans and grants to 53 sisterly and friendly
countries
2009-12-07 13:58:01
WAM Abu Dhabi, 7th Dec. 2009 (WAM) -- The total amount of loans, grants
and investments financed by Abu Dhabi Fund for Development (ADFD) and
Abu Dhabi Government and managed under the supervision of ADFD during
the past 37 years stood at nearly AED 23 billion for 273 development
projects in 53 developing countries around the world.
In 2009 alone, the ADFD offered loans in tune of AED 334.7 million to
projects in Eritrea, Guinea, Benin, Tanzania and Burkina Faso.
Abu Dhabi Fund for Development was established by directions of the late
Sheikh Zayed Bin Sultan Al Nahyan "May Allah bless his soul" on July
1971 with its head office in Abu Dhabi, with the aim to provide
assistance to the developing countries.
This initiative came out of his strong belief and profound realization
of the necessity to extend assistance to Arab, Islamic, and friendly
developing countries to face the difficulties, challenges, and economic
development problems.
The main activity of the Fund is to provide economic assistance in form
of concessional loans, grants or contributions to projects capitals.
Under the prudent and wise leadership of His Highness Sheikh Khalifa Bin
Zayed Al Nahyan, President of the United Arab Emirates, Abu Dhabi fund
shall continue its benevolent march and its policy of extending economic
help to support and backing up the regional and international efforts
aiming at achieving development goals in developing countries and fairly
participating in the distribution of world resources.
The ADFD's core mission focuses on helping developing countries achieve
sustainable economic growth and reduce poverty by providing financial
resources, forging partnerships in the public and private sectors, and
adopting international best practices to ensure aid effectiveness.
In addition to its activities, ADFD also manages the loans and grants of
Abu Dhabi Government, as it plays an essential role in designing,
executing, supervising and assessing the projects financed by the
government.
Arab, African and Asian countries received about 78.6, 5.7 and 4.4 per
cent respectively of the total loans and grants provided by the Fund and
Government of Abu Dhabi, according to a report issued to mark the 38th
national day of the UAE.
Acting Director General of ADFD Mohammed Saif Al Suweidi, said :'' the
fund has made it of its top priorities to provide economic assistance to
Arab, African, Asian and other countries to support their economic
development in the form of concessional loans or contributions to the
capitals of their projects.
''The ADFD has stakes up to 100 per cent in some of 12 companies,''he
said.
In addition to that, ADFD supervises the management of the loans and
grants offered by Abu Dhabi Government to its friends of countries.
ADFD has set its strategy on to the following pillars: *Providing
economic assistance to the developing countries. Promoting a
distinguished image of Abu Dhabi Emirate and its Government through
development projects.
*Enhancing capabilities by supporting programs which increase the
possibilities of achieving the sought development in these countries.
Encouraging relations and local partnerships with the developing
countries.
*Qualifying and developing national human resources.
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