Through a program that provides financing and technical expertise to 1,600 companies

Abu Dhabi Development Company supports small companies in Colombia with 37 million dirhams

During the Fund’s participation in the virtual launch ceremony for the new program.

From the source

The Abu Dhabi Fund for Development participated in the virtual ceremony organized by the Presidential Agency for International Cooperation in Colombia, to launch a program to support Colombian micro, small and medium-sized companies, which the fund finances with a value of about 37 million dirhams ($ 10 million), where the funding comes as part of the UAE grant, To Colombia, with a value of 165 million dirhams ($ 45 million).

The fund said in a statement yesterday that the program includes providing financial support and technical expertise to 1,600 Colombian companies through capacity building, providing financial and economic analysis support, in addition to establishing an electronic platform that links suppliers and producers to consumers.

He pointed out that the program aims to provide concessional financing to support these companies' investments and help them achieve large financial returns.

Development programs

In a speech delivered at the ceremony, the Deputy Director General of the Abu Dhabi Fund for Development, Khalifa Abdullah Al Qubaisi, affirmed the keenness of the UAE, represented by the Abu Dhabi Fund for Development, to support the development programs of the Colombian government, especially those related to social and infrastructure projects that contribute to advancing economic growth. And achieving sustainable development.

He said that the support program for medium and small companies, which the fund provides to the business sector in Colombia, will directly affect the economic and social development in the country, and will contribute to enhancing innovation and competitiveness of companies and increasing their productivity and exports, which will lead to raising the sector’s contribution to Colombia’s GDP, and improving The standard of living of the population.

Leading role

For his part, the Minister of Trade, Industry and Tourism of Colombia, Jose Manuel, thanked the UAE and the Abu Dhabi Fund for Development for their pioneering role in supporting development projects in Colombia, noting that the fund has financed a number of priority projects for the Colombian government, including the project to support companies Small and medium-sized enterprises that benefit thousands of families, contribute to the creation of many job opportunities, support the economy, and improve the quality of life of the population in Colombia.

Manuel added, "We look forward to further cooperation with the Abu Dhabi Fund for Development to implement development projects through our strategic partnership, which contribute to achieving our goals and aspirations related to improving the economy and supporting development programs implemented by the government."

Backing

Supporting the program in Colombia comes within the framework of the Fund's keenness to support developing countries to implement development projects, in line with the sustainable development goals, especially those related to stimulating industry and innovation, supporting infrastructure projects, and creating job opportunities for individuals.

Fund activity in Colombia

The Abu Dhabi Fund for Development started its development activity in Colombia in 2017, allocating 165 million dirhams to finance a package of projects in Colombia, as part of the development programs set by the Colombian government to advance the economic and social realities in the country, which includes the construction and equipping of 37 early childhood centers , Which provides healthcare and education to thousands of children in Colombia.

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