ADFD Plays Key Role In Supporting National Economy: Mansour Bin Zayed

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 12th Nov, 2019) H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Abu Dhabi Fund for Development, ADFD, today chaired the meeting of the fund's board of directors.

H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Deputy ADFD Chairman, board members and Mohammed Saif Al Suwaidi, Director-General of the ADFD.

The meeting discussed the fund’s activities and its projects in several beneficiary countries and its future plans.

The board also approved the financing of five projects in five countries valued at AED 719 million (US$196 million), after they met the required funding criteria.

"This year, the ADFD is continuing to maintain the UAE's leading position in global development while focussing on economic sectors that are influential to the lives of people in developing countries, to achieve sustainable economic development," Sheikh Mansour said.

"The success of the fund’s global development work was driven by the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the support of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

These guidelines have enabled us to expand the geographic scope of the fund's activities and help developing countries achieve their sustainable development goals," Sheikh Mansour added.

Sheikh Mansour also highlighted the fund’s positive role in supporting the national economy and helping Emirati companies intensify their activities and increase their business outside the UAE.

He also noted the key role of the Abu Dhabi Export Bureau in supporting the national economy and enhancing its competitiveness, through increasing national non-oil exports.

Mohammed Saif Al Suwaidi, Director-General of the ADFD, said that the fund is actively contributing to the national economy and helping to adopt a policy of economic diversification, in line with the UAE Vision 2021 and the Abu Dhabi Economic Vision 2030.

Since its inception, the ADFD has provided funds amounting to AED98 billion, which benefitted some 95 countries around the world, while the value of its investments totalled AED3 billion.