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The Equity Section was established to manage the contributions of joint investments between the Abu Dhabi Fund for Development and institutions in the host countries. These investments are considered as means of development, and an important cash generating source for the fund, in addition to loans extended by Abu Dhabi Fund for Development.

ADFD strives to achieve development in host countries by utilizing the vehicle of commercially viable investments that provide ADFD with the required cash flows and meet ADFD goals of eradicating poverty and decreasing unemployment.

The direct contributions of Abu Dhabi Fund for Development aim at supporting the developing countries economy through:

■ Building commercially sustainable facilities

■ Creating multiple income sources for the local citizens

■ Revenues accrued from foreign currencies

■ Creating job opportunities

■ Reinforcing technical and administrative skills

The investment policy adopted by Abu Dhabi Fund for Development focuses on the investment in companies and projects with potentials to contribute to the realization of the economic development In other words, to be eligible to those contributions, companies/projects are supposed to result in added values to the country’s economy through generating tangible and considerable economic benefits in addition to other positive results where possible. As for the its direct and long-term investments, Abu Dhabi Fund for Development adheres to their commercial sides on the long run.

Sector	Contribution value (AED)	Percentage
Holding Companies	290,184,092	39.78%
Tourism	300,593,196	41.21%
Industry	36,241,968	4.97%
Agriculture and Fishery	11,332,110	1.55%
Trading	3,250,423	0.45%
Real State	87,816,000	12.04%
Total	729,417,789	100.00%

Distributions of the Fund’s Investment Portfolio:

By the end of the fiscal year closed on 31^st December 2007, the total value of the direct contributions of the Fund mounted approximately to AED 700 million.

The Tourism and Hotels Sector attracted the biggest share (41 %) of the Fund’s total direct investments.

Two main reasons lie behind the Fund’s concentration on this sector. First, investment in Tourism Sector yields direct and quick benefits such as creating more jobs opportunities and improving the standard of living.
Second, prosperity of the Tourism Sector would positively activate other sectors.

The Fund’s other investments are distributed on the Holding Companies (40%) of the Fund’s total investments, Real Estate Sector (12%), Industry (5%), Agriculture and Fishery (1.5%), Industry (6%) and the Trading Sector (0.4%).

ADFD’s investments include the following:

Company	Country	Industry	Percentage of ownership	Value of contribution
Al Dhabi Holding Company	Sudan	Holding	100%	202,015,000
Societe Rebab	Morocco	Holding	82.82%	3,689,000
Abu Dhabi Tourist Investment Company	Egypt	Tourism	84.28%	236,191,000
UAE Bangladesh Investment Company	Bangladesh	Holding	60%	11,013,000
Union Maroc Emirates de Peches	Morocco	Agricultural & Fisheries	40%	11,332,000
Societe Delma d'Investissements Touristiques	Morocco	Tourism	33.71%	35,372,000
Societe d’Etudes et de Developpment de sousse Nord	Tunisia	Tourism	32.31%	19,929,000
Societe Plameraie Maroc Emirats	Morocco	Tourism	17%	9,101,000
Raysut Cement Company	Oman	Industry	10%	94,225,000
Austrian Conference Center Company	Austria	Real Estate	7.5%	87,470,000
Ciments du Maroc	Morocco	Industry	5.38%	11,229,000
Automobile Reseau Tunisien Et Services	Tunisia	Trading	5.00%	80,058,000
Total				813,462,000