Abu Dhabi Fund for Development Delivers Lecture on Global Development Assistance at Emirates Diplomatic Academy

Saturday 11 May 2019
Abu Dhabi - MENA Herald:

Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, delivered a lecture at the Emirates Diplomatic Academy (EDA) in Abu Dhabi, to highlight the Fund’s role in promoting socio-economic development in developing countries. The session also focused on ADFD’s own contribution to achieving the UN’s Sustainable Development Goals (SDGs).

Delivered by Fatima Al Balooshi, Media Advisor at ADFD, the informative lecture drew the participation of EDA students and employees.

Speaking on the occasion, His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, said: “The pioneering sustainable development vision of the founding father of the UAE, late Sheikh Zayed bin Sultan Al Nahyan, has inspired ADFD to drive the progress of key sectors, such as education, health, energy, transportation, housing, agriculture and industry. The Fund has also taken on an active role in creating jobs and advancing sustainable economic growth in developing countries.”

He added: “The endeavours of the UAE leadership, headed by the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan, have positioned the country as the world’s largest official development aid donor relative to national income for five consecutive years, according to the Development Assistance Committee of the Organisation for Economic Co-operation and Development (OECD).”

For his part, His Excellency Bernardino León, Director General of EDA, said: “I thank ADFD for this informative lecture that provided our students, the UAE’s future diplomats, with invaluable insights on the leading role our country plays in global development assistance. The collaborative efforts of the international community are imperative in achieving the Fund’s mission of driving sustainable economic growth and reducing poverty in developing countries, as envisioned by the UAE leadership. This is where diplomacy comes into play.”

He added: “The session was part of EDA’s efforts to equip its graduates with the essential knowledge and skills to advance our country’s interests on the global stage.”

During the lecture, Al Balooshi outlined the development philosophy guiding ADFD’s work that seeks to ensure a more prosperous future for all the people across the globe. The Fund is committed to consolidating the UAE’s leading status in supporting development projects in developing countries across the Middle East, Africa, Asia Pacific and Latin America. Since its inception in 1971, ADFD has managed concessionary loans and government grants valued at AED83 billion to finance thousands of projects in 88 countries, also ADFD allocated AED3 billion in equity investment in existence companies and privet equity funds to accelerate the economic growth in developing countries.

Al Balooshi also provided an overview of the Fund’s efforts to support the national economy through facilitating business deals worth AED16.5 billion for local companies over the last 10 years to implement ADFD-funded projects in developing countries.

Furthermore, she pointed out that ADFD is currently finalising a national export financing programme to provide financing and guarantee facilities to the national companies. The programme seeks to boost export rates and facilitate the entry of these companies into new international markets. In line with the UAE Vision 2021 and the Abu Dhabi Economic Vision 2030, aimed at advancing economic diversification as a pillar of sustainable development, the programme is expected to enhance the competitiveness of the UAE economy in international markets through expanding the range of export products and commodities.

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