Mansour bin Zayed directed the adoption of an investment plan to manage development projects

104 billion dirhams of funds from the Abu Dhabi Fund for Development

Mansour bin Zayed: The Fund supported the path of sustainable economy for developing countries.

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The Abu Dhabi Fund for Development stated that its total financing and investments reached 104 billion dirhams, from which 97 countries have benefited from it, since its inception.

This came during the presidency of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, Chairman of the Board of Directors of the Abu Dhabi Fund for Development, a meeting of the Board of Directors of the Fund, at "Qasr Al Watan", attended "remotely" by His Highness Sheikh Abdullah bin Zayed Al Nahyan Minister of Foreign Affairs and International Cooperation, Vice Chairman of the Board of Directors.

His Highness Sheikh Mansour bin Zayed Al Nahyan affirmed that the fund has gained a global reputation in development work, as a result of its continuous efforts to support the sustainable economy process for developing countries, following up with His Highness that achieving these pioneering achievements thanks to the directives of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the State, and the support of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces.

His Highness referred to the importance of the fund's great efforts to mitigate the repercussions of the Corona pandemic, and its contributions locally, regionally and globally to contain its effects, through its initiatives that were characterized by their positive impact on the national economy and the economies of developing countries.

His Highness praised the Abu Dhabi Exports Office (ADEX) and its active role in supporting Emirati companies and developing their non-oil exports to be more competitive and to be able to enter new global markets, adding that the office will work to enhance the opportunities for strategic expansion of national exports.

His Highness directed the necessity of adopting an investment and economic plan during the coming period to manage development and investment projects, in order to enhance economic growth at the local and global levels, and turn challenges into fruitful opportunities.

For his part, the Director General of the Fund, Muhammad Saif Al-Suwaidi, affirmed that the leadership is keen on the continuity of the development and economic work that the Fund is doing, as it has proven its success as a financial institution that supports sustainable development in the countries of the world, noting that the total funds and investments of the Fund since its inception have reached 104 billion. Dirhams, from which 97 countries have benefited from all continents, and the Fund will continue its progress in preparation for launching a pioneering developmental journey for the next 50 years.

The meeting of the Board of Directors reviewed the topics on the agenda, the most important development and investment projects, and the achievements of the fund during the year 2020, and the board reviewed the results of auditing the fund’s financial statements received from the Abu Dhabi Accountability Authority.

The results of the fund’s initiative that it launched regarding delaying debt repayment to companies and countries affected by the repercussions of the pandemic were discussed, and the important results they achieved that contributed to enabling those countries to overcome the crisis and ensure financial and economic stability, which was positively reflected in their sustainable development path.

The meeting was attended by Minister of State for International Cooperation, Reem bint Ibrahim Al-Hashemi, Minister of State, Ahmed bin Ali Muhammad Al-Sayegh, and a consultant in the Ministry of Presidential Affairs, Faris Muhammad Al-Mazrouei, and members of the Board of Directors Omar Saif Ghobash, Muhammad Najm Al-Qubaisi, Al-Yazia Ali Al-Kuwaiti, and Muhammad Hamdan Al-Falahi .

Economic development

The Board of Directors of the Abu Dhabi Fund for Development has directed the necessity to continue exerting efforts that would preserve the prestigious position of the UAE in the field of development work and achieve sustainable economic development at the local and global levels.

The Board approved the financing of a number of development projects in developing countries that have fulfilled the financing conditions. It also appreciated the efforts of workers and their pioneering role in achieving the fund’s goals and objectives.

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