Abu Dhabi Development Fund Hits $52bn in Investments

EKISPEDIA.COM - The Abu Dhabi Fund for Development’s (ADFD) investments totalled more than AED189.7bn ($52bn), by the end of December 2022, according to its annual report 2022 (Global Partner for Sustainable Development).

The ADFD made remarkable milestones with its financing and has now benefited 104 nations.

Total investment reached AED12.58bn in seven Investment instruments.

Abu Dhabi Fund for Development investments

By investing in strategic companies in the UAE and partner countries, ADFD plays a crucial role as a driver of sustainable development, in addition to replenishing its own financial resources.

Through these investments, ADFD ensures economic stability of the beneficiary nations. Thus far, the Fund has invested in 15 companies. The investments have been made in key sectors including industry, tourism, agriculture and services.

Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Minister of Presidential Court and Chairman of ADFD’s Board of Directors, said in a forward in the report that: “The United Arab Emirates has made remarkable progress in the field of global development, building on the solid principles established by our wise leadership since the era of our founding father, the late Sheikh Zayed bin Sultan Al Nahyan.

“His vision and dedication laid the foundation for the UAE’s developmental aid policy, which aims to support the international community, advance their economies, and achieve their development goals.

“This policy continues to be followed by the leadership of Sheikh Mohammed bin Zayed Al Nahyan, the President of the UAE.

‘’With relentless efforts and unwavering commitment, Abu Dhabi Fund for Development (ADFD) has achieved remarkable successes that have cemented the UAE’s position as a global leader and role model for development.

“We are proud to have brought about societal regeneration across developing countries, driven economic growth, and improved the quality of life.

“ADFD has also played a vital role locally, through a comprehensive strategy that supports the UAE government’s ambitious vision for the national economy’s growth and sustainability”.

Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and Vice Chairman of ADFD’s Board of Directors, said the ADFD’s outstanding achievements over the past year have made significant contributions to local and global economic development.

Sheikh Abdullah said: “We can help societies in developing countries achieve their development goals and aspirations, and empower them to build a better future for themselves.

“ADFD’s leading role and notable achievements in economic and developmental affairs have significantly strengthened our partnerships with countries around the world, as we operate in over 100 countries across multiple continents.”

Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, said: “In 2022, ADFD adopted a policy to focus its attention on supporting partner nations, boosting the national economy, and enhancing its competitiveness, a culmination of over 51 years of exceptional efforts in sustainable development and economic growth.

“We take pride in the remarkable milestones achieved by ADFD, with its financing and investments totalling more than AED189.7b, which have benefited 104 nations across continents. The strategic projects it funded have contributed to the economic and social development of partner nations”.

Abu Dhabi Fund for Development (ADFD) maintained its commitment in 2022 to providing concessionary loans to developing nations so they could achieve their developmental agendas.

The five loans, totalling AED2.56bn benefited:

• Bahrain
• Argentina
• Uzbekistan
• Nigeria
• Jordan

Managed by ADFD, the grants provided by the UAE government are key to enabling partner countries to utilise the power of sustainable economic development.

In 2022, Abu Dhabi Fund for Development provided four such grants totalling AED674.7m to Azerbaijan, Somalia, Uzbekistan, and the Maldives.

They supported key economic sectors in these countries including transport, energy, housing, and agriculture. Their impact was directly evident in the improvement of the quality of life.

The strategic projects, funded by the United Arab Emirates and managed by ADFD as part of the Gulf Development Fund program included Jordan, Morocco, and Bahrain.

These initiatives helped achieve economic and social development in these countries. The total value of the projects amounted to AED18.4bn ($67.5b).

By 2022, ADFD financed 73 renewable energy projects with a total value of more than AED4.7bn, which benefited 52 partner countries by enabling them to meet the growing energy demand in a safe and sustainable manner.

The projects that harnessed hydel, solar and wind energy also helped improve the economy and quality of life in developing countries, reduce CO2 emission and achieve sustainable development goals, especially SDG 13, which also calls for action to tackle climate change.

At the local level, Abu Dhabi Fund for Development has been supporting the UAE’s effort to prioritize clean-energy investments and other innovative solutions to tackle climate change, stimulate economic growth and build a more sustainable and resilient future for the global community.

Source: arabianbusiness.com