Tuesday, June 6, 2023

Abdullah bin Zayed chairs Executive Committee meeting of Abu Dhabi Fund for Development

Source: WAM

The Executive Committee of the Abu Dhabi Fund for Development (ADFD) held its first meeting for 2022, chaired by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Vice Chairman of the ADFD Board of Directors, and Chairman of the Executive Committee.

The virtual meeting was attended by Ahmed Ali Al Sayegh, Minister of State, Faris Mohammed Al Mazrouei, Advisor at the Presidential Court, Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, Dr. Alyazia Ali Al Kuwaiti, Executive Director of Energy in Mubadala Investment Company, the members of the Executive Committee, and Mohamed Saif Al Suwaidi, ADFD Director-General.

A number of topics were discussed during the meeting, including requests for funding development projects in developing countries, and appropriate decisions were taken.

During the meeting, Sheikh Abdullah praised the achievements of the Fund and its leading role in advancing the economies of developing countries and stimulating their various productive sectors, in addition to its effective role in supporting the UAE’s national economy.

He highlighted the importance of continuing the development process and supporting the international community to achieve its development goals and programmes in accordance with the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, to maintain the prominent position of the UAE which placed it among the developed countries in developmental work at all levels, both regionally and internationally.

For his part, ADFD’s Director-General Al Suwaidi thanked H.H. Sheikh Abdullah and all members for their efforts in supporting the Fund’s activities and its role in promoting economic development locally and globally, stressing that the achievements made by the Fund came by virtue of the wise directives of the leadership.

He said, “The development and investment fund’s activity witnessed a remarkable growth during the last period. The numbers and results achieved until November 2022 indicated an increase in the value of financing, as the value of funding amounted to about AED180 billion, benefiting 103 countries in various continents of the world.”

“Additionally, the fund’s total investments amounted to AED12 billion, which benefited 23 countries, in addition to the substantial results achieved by the Abu Dhabi Exports Office in supporting and diversifying the national economy, as it provided AED631 million in financing that contributed to supporting Emirati companies and developing national exports in global markets,” Al Suwaidi added.


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