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ADFD Hosts Informative Seminar for UAEU Students

Abu Dhabi,23 Nov 2017

Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, hosted a seminar for the students of the United Arab Emirates University (UAEU) to discuss the Fund’s development work, operational activities, and achievements spanning 84 beneficiary countries.

Within the series of seminars offered by the Fund to public and private universities and colleges, the session aimed to highlight the UAE’s important work in development funding and its foreign aid strategy.

Over the course of two hours, students of UAEU received a stimulating presentation about the Fund’s 46-year journey, its objectives and long-term mission from Saeed Al Dhaheri, Director of Finance at ADFD, and Fatima Al Blooshi, Head of Media and Communications at ADFD.

Fatima Al Blooshi lauded the fact that both ADFD and the UAEU were established by the founding father of the UAE, late Sheikh Zayed bin Sultan Al Nahyan, highlighting his revolutionary vision for global development assistance and education.

The panellists also shared insights on how ADFD has driven and supported the UAE’s mission of socio-economic development funding. By end-2016, the Fund disbursed AED80 billion, of which AED35 billion was allocated as concessionary loans, AED42 billion formed government grants, and AED3 billion comprised investments in companies and private equity funds.

The session also highlighted how ADFD’s development work contributed to the UAE achieving the status of top world aid donor in the field of official development assistance for 2016, according to a report by the Development Assistance Committee of the Organisation for Economic Co-operation and Development. The UAE was also recognised as the top world aid donor in 2013 and 2014.

For his part, Saeed Al Dhaheri discussed the Fund’s policies and criteria for providing concessionary loans and managing government grants to finance projects that support economic and social development in beneficiary countries. He also informed the students about ADFD’s investment strategy in select companies within recipient countries. These investments bolster key sectors and provide job opportunities for citizens of the beneficiary countries, while continuing to promote economic advancements.

Al Dhaheri added that ADFD’s funding policies and strategic development projects have strengthened its position worldwide and helped cultivate partnerships and initiatives with multiple international organisations.

The seminar concluded with a question and answer session with the students expressing their pride in ADFD’s prominent role in achieving sustainable development globally.