ADFD hailed for playing key role in sustainable development

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Through its development and investment activities, the fund has financed thousands of strategic projects in 97 countries, while the volume of its development funds and investments has doubled to reach about AED150 billion, reports Asian Lite Newsdesk

UAE has effectively contributed to supporting the implementation of the 2030 Agenda for Sustainable Development in developing countries, stated the ministers and government officials on the occasion of the 50th anniversary of the Abu Dhabi Fund for Development (ADFD).

They highlighted the crucial role of the ADFD in establishing the UAE as the world’s largest donor of development aid relative to national income by financing a host of pioneering initiatives and projects across the globe.

Through its development and investment activities, the fund has financed thousands of strategic projects in 97 countries, while the volume of its development funds and investments has doubled to reach about AED150 billion.

Congratulating the ADFD on its 50th anniversary, Ahmed Juma Al Zaabi, Minister of Federal Supreme Council Affairs, said, “The fund’s golden jubilee coincides with the celebrations of the 50th anniversary of the establishment of the UAE by Sheikh Zayed and his brothers, the Founders of the Union. President His Highness Sheikh Khalifa bin Zayed Al Nahyan continues on the path the leaders laid out for our nation, which has enabled the country to achieve outstanding results in all vital sectors and strengthen its prestigious global standing.”

“Under the direction of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the ADFD Board of Directors, the fund has contributed to conveying the UAE’s message of solidarity to the world,” he added.

International Cooperation Ambassador Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, said, “Since its establishment, the ADFD has been one of the leading global institutions in driving comprehensive sustainable development in developing countries, one of the most important pillars of the UAE’s foreign relations and the nation’s ambassador of international cooperation.”

“The ADFD’s projects and programmes also contributed to achieving the Millennium Development Goals until 2015,” she added.

Promoting Economic Development Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said, “The ADFD drives economic development locally and globally by financing projects and fostering investment partnerships. The fund also contributes to implementing Abu Dhabi’s and the wider UAE’s policy of supporting development plans in the infrastructure, energy, education and healthcare sectors in cooperation with international institutions. Furthermore, it plays a key role in strengthening the national economy by promoting the use of locally manufactured products in its projects through Abu Dhabi Exports Office (ADEX).”

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Addressing Climate Change Challenge Dr. Abdullah Belhaif Al Nuaimi, Minister of Climate Change and Environment, said, “For five decades, the ADFD has been integral to the UAE’s journey of driving global development. The fund actively participates in the UAE’s efforts to confront the climate change challenge by promoting the deployment of renewable energy solutions in developing countries.”

Driver and Catalyst of National Economy Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said, “The ADFD’s pioneering achievements over five decades demonstrate the wisdom and foresight of Sheikh Zayed bin Sultan Al Nahyan. As a landmark national entity, the ADFD has continually supported sustainable development across the globe.

“With the launch of the new strategy of the Ministry of Industry and Advanced Technology, the UAE is set to emerge as a regional and global hub of advanced industries, while fulfilling the country’s development goals in the next fifty years and beyond,” he added.

Strengthening Role of Private Sector Mohamed Helal Al Mheiri, Director-General of the Abu Dhabi Chamber of Commerce and Industry (Abu Dhabi Chamber), commended the ADFD for launching ADEX, a pioneering economic entity that has achieved a qualitative leap in advancing the UAE’s economic diversification, reducing dependence on oil as a source of income, enhancing the competitiveness of national exports in foreign markets and consolidating the country’s position on the global trade map.

The Abu Dhabi Chamber was the first to sign a cooperation agreement with ADEX, aimed at assisting national companies in developing their export activities.

Renewable Energy Solutions In addition to the $350 million ADFD/IRENA Project Facility, the fund contributed to financing initiatives to support clean energy projects with a total value of $100 million in 27 Pacific and Caribbean countries.

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