Abu Dhabi Fund for Development celebrates milestones on 51st anniversary

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  • ADFD thanks the national leadership for its support in its effort to drive sustainable development in 103 countries
  • Fund’s total loans, investments and deposits stand at AED 185.2 billion

Abu Dhabi: Since its establishment in 1971, Abu Dhabi Fund for Development has been on a mission to drive development in various fields; it has achieved many milestones for the UAE, enabling the country to raise its global status, thanks to the patronage of the leadership. The national vision has been the guiding principle for ADFD as it helped developing countries to strengthen their economies, while also supporting the national economy and enhancing its global competitiveness.

The strong positive impact achieved until June 2022 underscores the fast-paced growth of ADFD’s development & investment activities. The fund has provided soft loans to developing countries worth AED 58.12 billion and disbursed AED 59.30 billion government grants. Its total allocation of funds for development projects stands at AED 117.42 billion, which benefited 103 countries in different continents.

The Fund has invested AED 11.7 billion in multiple sectors through six financial tools. It has invested in 14 strategic companies, while the geographical area of investment encompassed 23 countries. Additionally, ADFD has deposited money in the central banks of some countries to support them stabilize foreign-currency reserves. The total amount of these deposits is AED 56.1 billion.

Speaking on ADFD’s anniversary Mohamed Saif Al Suwaidi, the Director General, said: “We are steadily moving towards achieving our future aspirations and the UAE’s ambitious vision to support developing countries over their aspirations for progress. We owe our success to the support of our wise leadership; we are proud of our achievements.”

H.E. added that ADFD looks forward to attaining its goals over the next 50 years and making significant achievements, as well as strengthening the UAE’s leading position across several global competitiveness indicators.

At the national level, Abu Dhabi Fund for Development has created innumerable opportunities for Emirati companies and gave these companies the priority to implement its development projects around the world. By doing so, it has contributed to the UAE’s private sector and its economy in general.

The Fund provided loans worth AED 1.94 billion to support and empower Emirati companies expand their business inside and outside the country.

The Abu Dhabi Exports Office (ADEX), the export-financing arm of ADFD, has also played a key role in increasing the volume of export as it supported the efforts to diversify the national economy, and enhance the competitiveness of Emirati companies by providing financing worth AED 316 million. ADEX also provides financing solutions and guarantees to importers of Emirati products and services.

About Abu Dhabi Fund for Development (ADFD)

Abu Dhabi Fund for Development (ADFD) is a leading national financial entity owned by the Abu Dhabi government. It was established in 1971 with an aim to help developing countries strengthen their economies by providing concessionary loans for development projects as well as through long-term investments and direct contributions. In addition to managing development grants given by the Abu Dhabi government, ADFD has adopted a policy of supporting the national economy by driving private-sector investments, financing national exports and enabling exporters to expand into global markets, thus enhancing the competitiveness of the UAE economy.