A few weeks ago, the annual report of the Abu Dhabi Fund for Development was issued, indicating the profits it achieved during the year 2023. Its operational activity showed an increase in the cumulative total of development and investment financing, which reached more than 216 billion dirhams. The total value of these funds reached 120.5 billion dirhams until the end of December 2023, and they include 66 billion dirhams for soft loans, and 54.5 billion dirhams for government grants. 106 countries in various continents of the world also benefited from these funds to promote development goals, grow economic activity, and improve the quality of life. Communities. The report as a whole contributes to maintaining the UAE’s position as the largest donor country for development aid at the international level.
Since its establishment in 1971, the Fund has continued to achieve qualitative achievements in various fields, and over the course of 53 years it has achieved successes that have contributed to the UAE topping the list of supporting sustainable development programs in dozens of developing countries, and this is the approach that the UAE has followed for decades.
At the local level, the Abu Dhabi Fund for Development is considered the development arm of the UAE government because it supports the national economy, as well as UAE exports to enhance their competitiveness in global markets. The Fund has proven its strength through the many achievements it has achieved in several stages, starting with providing promising opportunities for Emirati companies, and giving them priority to implement and develop many local projects after providing them with financing amounting to 1.94 billion dirhams.
One of the Fund’s objectives with regard to these financings is to enable Emirati companies to expand the scope of services they provide locally to make way for them to be able to compete, as well as to expand the scope of their business outside the country’s borders, which ultimately contributes to the development and empowerment of the local economy.
On the other hand, the UAE Fund supports the international community to enable it to achieve its development goals, as it provides soft loans and works to manage government grants to finance strategic projects in partner countries, which benefits the residents of poor countries, improves their standard of living, and alleviates their suffering. .
In this regard, the Fund played a pioneering role in supporting global development programs through its work to implement and develop priority development projects for governments of poor countries, especially in vital sectors, such as renewable energy projects, agriculture, water, and transportation, in addition to paying attention to service sectors, such as education. Health, tourism, and other major sectors. There is no doubt that the financing provided by the Fund contributed to reviving the economy of a number of these countries.
All of the above took place over many years, as the Fund was able to strengthen its position among the most prominent development aid institutions internally and globally, and the numbers and results it achieved prove the high pace of its development and investment activity, especially during the last two decades.
According to the plans – both short-term and long-term – set by the Fund, it is looking towards promising future prospects, and for this reason it continues its journey in supporting local companies on the one hand, as well as in supporting the communities of developing countries on the other hand, in order to work to achieve stable and sustainable growth.
Over the course of that period, the Fund received continuous support and direct attention from the leadership of the state, which devoted significant efforts to building humanity, stoking the spirit of cooperation, and pushing forward charitable work with its humanitarian nature. Despite the challenges that charitable and development work has faced and continues to face, the Fund is still… He continues on his path, continuing to achieve more goals and visions set for him.
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