Abu Dhabi Fund for Development (ADFD) has supported development and strategic projects in some 88 countries worth more than AED 81 billion, while the number of investment projects financed by the Fund outside the UAE has exceeded AED 3 billion. The Fund will launch a new national export support program that works within the best international practices in this field and aims to implement economic diversification policies, build a sustainable economy and reduce reliance on oil resources as a source of income.
The Board of Council Affairs organized a lecture at Al-Bateen Council yesterday by the Director General of Abu Dhabi Fund for Development Mohammed Saif Al-Suwaidi, under the title "Entrepreneurship and Sustainable Development", in which he stressed that the number of companies contributed by the Fund reached 14 A company until the end of 2018, pointing to the diversity of investments of the fund between companies and private portfolios spread across several countries in the continents of Asia and Africa.
The Fund's activities are divided into two types: First, Development Finance: The value of the projects financed and managed by the Fund is more than AED 81 billion in 88 countries, most of which focused on financing and supporting the main sectors driving the economic growth of developing countries, , Electricity, water, irrigation, renewable energy, transport and communications, industry and housing.
"The second activity of the Fund is to invest in a number of strategic projects financed by the Fund, including the expansion of the Bahrain International Airport, which the Fund contributed by about 3.3 billion dirhams." This project is one of the largest projects in the region, The airport has a capacity of 14 million passengers per year, in addition to the establishment of aircraft parking spaces and a special building for various services from hotels and services for travelers.
Al Suwaidi pointed out that the Tangier Port project in Morocco is one of the important strategic projects financed by the Fund and contributed to the overall economic and social development of AED 1.1 billion, which contributed to the provision of more than 55 thousand jobs, pointing out that the volume of container handling reaches 3 million containers a year, the largest sea ports in Africa and the largest on the Mediterranean.
He explained that the Fund's investments vary between private companies and portfolios spread across several countries in Asia and Africa. The number of companies contributed by the Fund to 14 companies by the end of 2018, stressing that the Fund plays an important role in supporting the national private sector, National exports are among the best international practices in this field and aim at implementing policies of economic diversification, building a sustainable economy and reducing reliance on oil resources as a source of income.
He pointed out that the Fund has adopted a strategy to support local community institutions to help them implement their various initiatives and activities related to the development of community members, pointing to the Fund's contribution to supporting 40 initiatives of 20 national institutions focused on supporting the educational sector to enhance the capacity of students in the areas of technology development, innovation and scientific research.