Sheikh Abdullah hails ADFD’s role in strengthening national economy

Gulf Today, Staff Reporter

The Executive Committee of Abu Dhabi Fund for Development (ADFD) held its first meeting for the year 2024, chaired by Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, Vice Chairman of the ADFD’s Board of Directors, and Chairman of the Executive Committee.

The virtual meeting was attended by Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State; Ahmed bin Ali Al Sayegh, Minister of State; Fares Mohammed Al Mazrouei, Advisor to the Presidential Court, the Executive Committee members and Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development.

Several topics were discussed during the meeting, including project funding requests in developing countries, and major decisions were taken.

Sheikh Abdullah said: “The achievements of Abu Dhabi Fund for Development are a testament to the continuous support and commitment of the President, His Highness Sheikh Mohammed Bin Zayed Al Nahyan; and the diligent oversight of His Highness Sheikh Mansour Bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board of Directors of Abu Dhabi Fund for Development. Their guidance and leadership have bolstered the UAE’s efforts to establish itself as a global example in the realm of development work, leading to the prosperity and advancement of communities in developing nations.”

He also emphasised the role undertaken by the Fund to strengthen the national economy through the enhancement of UAE exports’ competitiveness in global markets. Additionally, ADFD has been instrumental in supporting the national private sector to attain its strategic objectives and providing it with promising opportunities for local and global expansion. These efforts have significantly contributed to the growth of foreign trade and the advancement of companies’ businesses in the UAE, driving the development of a diversified and sustainable economy.

His Excellency Mohamed Saif Al Suwaidi extended his gratitude and appreciation to His Highness Sheikh Abdullah bin Zayed for supporting the Fund’s efforts and enabling it to strategically expand its main operational activities, which contributed to the growth of the national economy as well as those of developing countries.

He highlighted that ADFD had significantly accelerated its development and investment activities in recent years. The combined sum of development financing and diverse investments has surpassed AED216 billion, benefiting 106 countries across continents. Such contributions have been instrumental in upholding the UAE’s status as the foremost contributor to global development assistance.