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MediaIn / Rasha Al-Sharqawi
The Abu Dhabi Fund for Development (ADFD) carries out a wide range of projects in the most important areas of community life and progress in 83 countries around the world as part of the UAE’s mission to help developing countries achieve development.
The total number of projects financed since the establishment of the Fund till the end of last year was 500, with a total value of 77 billion dirhams. It covered 83 developing countries around the world, including 340 projects in Arab countries worth 58.4 billion dirhams, 66 projects in Asian countries worth 4.6 billion dirhams , 74 projects in African countries worth 3.3 billion dirhams.
The projects funded by the Fund covered various areas of interest and interest, such as agriculture and irrigation, where 56 projects worth AED 6.7 billion were financed, 92 projects in the electricity and water sector worth 7.6 billion dirhams, 45 housing projects worth 7.3 billion dirhams, Industry and mining worth AED 3.8 billion, 87 projects in the field of transport and communications worth 13.2 billion dirhams, 92 projects in the health sector at a cost of 9.3 billion dirhams and 87 projects in other sectors worth 29 billion dirhams.
The Abu Dhabi Fund for Development seeks to enable developing countries to achieve their development goals by financing projects that serve the basic sectors, providing soft loans to their governments to finance projects serving their infrastructure sectors.
The Fund also manages the grants provided by the Government of the United Arab Emirates to fund vital projects in the beneficiary countries by supervising and following up the implementation of the projects in accordance with agreed terms. The Fund has managed government grants valued at 45 billion dirhams until the end of 2016.
In a bid to help countries overcome economic challenges by financing vital projects for the sustainable development of developing countries, the Fund has provided 165 million dirhams (US $ 45 million) as a grant from the Government of Abu Dhabi to finance multiple development projects and programs in Colombia. Financing projects for social and economic development, including the establishment of early childhood centers and education and health centers, as well as supporting small and medium enterprises in a number of Colombian provinces to provide employment opportunities for the community and improve their living conditions.
The Abu Dhabi Development Fund (ADFD) aims to expand its geographic reach to all developing countries, including Latin America and the Caribbean. IFAD has recently financed several development projects in Argentina, Cuba and Ecuador, as well as financing renewable energy projects in Caribbean countries.
The fund has recently provided funding to the Government of Maldives worth 183.5 million dirhams ($ 50 million) to develop and expand Villana International Airport, near the capital Male, to support the tourism sector and stimulate the national economy. The project aims to achieve economic and social development in the Maldives by improving airport facilities And expand its absorptive capacity to cope with the steady growth in the tourism sector. The project also works to boost the country’s income from the tourism sector, which will positively affect the standard of living of the population and create new job opportunities.
