Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, hosted a workshop entitled ‘Development Financing’ to share best practices among leading funding institutions and discuss ways to overcome funding challenges in developing countries.
The event drew the participation of representatives of local and international entities, including the UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC), the Bill & Melinda Gates Foundation, and King Salman Humanitarian Aid and Relief Centre.
Held at the ADFD headquarters in Abu Dhabi, the session focused on raising awareness of existing financing mechanisms in developing countries and examined the sustainable development funding methods of the participating financial entities. The event also served as a platform to exchange experiences in managing development projects.
Speaking on the occasion, His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, said: “This specialised workshop highlighted the efforts of the participating entities to improve the standards of living in developing countries. I am confident that the learning session will boost coordination and cooperation with our partners from the ranks of regional and international financial institutions.”
He added: “ADFD is one of the leading development stakeholders focused on building partnerships to assist developing countries in addressing the socio-economic challenges they face. To achieve this priority, we must all work together to introduce innovative financing initiatives and mechanisms that help achieve the UN’s Sustainable Development Goals (SDGs).”
At the workshop, ADFD presented an overview of its strategy, development funding, investments, and its upcoming national export financing programme. In line with the UAE Vision 2021 and Abu Dhabi Economic Vision 2030, the programme seeks to support the UAE national economy and enhance its competitiveness through expanding the range of export products and commodities.
Since its inception in 1971, ADFD has financed development projects and investments to the tune of AED92 billion in more than 90 countries around the world through concessionary loans and grants from the Abu Dhabi government.
