ADFD Delivers a lecture in Al Manhal Majlis
,03 Feb 2020
His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), delivered today a lecture at Majlis Al Manhal titled “Abu Dhabi Fund for Development: Pioneering and Sustainable Development”. The lecture organized by the Majalis Affairs Office at Abu Dhabi Crown Prince’s Court and witnessed the presence of His Excellency Ahmad Jumaa Al Zaabi, Minister of the Federal Supreme Council at the Ministry of Presidential Affairs, and a number of officials and citizens.
Al Suwaidi began the lecture by thanking His Highness Sheikh Khalifa bin Zayed Al Nahyan, UAE President, His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of Abu Dhabi Fund for Development’s (ADFD’s) Board of Directors, for their wise directives and their efforts in supporting the global development work and helping the international community to achieve the sustainable development goals.
Al Suwaidi said: “We cannot speak about ADFD’s achievements over the past 48 years without mentioning the wisdom and vision of our founding father the late Sheikh Zayed bin Sultan Al Nahyan, who had realized the importance of establishing the fund to help people of the world achieve sustainable development.”
He added: “Abu Dhabi Fund for Development was established in 1971 as a pioneering national financial institution that helps enhance sustainable economic development locally and internationally. ADFD offered support to developing countries in the form of financing and investments that played a vital role in the plans and development programs of these countries. The total funds and investments of ADFD have amounted to AED102 billion, with 94 countries benefiting from these funds.”
Al Suwaidi recalls that ADFD funds in developing countries concentrated on supporting infrastructure projects, agriculture sectors, renewable energy, transportation and communications and the construction of power stations and airports, along with the education and health sectors.
His Excellency pointed out that supporting the national economy and enhancing its competitiveness are strategic objectives for ADFD within the economic diversification policy’s framework, adopted by the United Arab Emirates, as ADFD is keen to contribute to supporting the national companies and extend their reach to enter in various global markets, providing investment opportunities and economic partnerships with countries benefiting from ADFD activities.
He added: “In order to achieve those objectives, ADFD has launched the Abu Dhabi Exports Office (ADEX) which provides a leading credit umbrella to encourage national companies to obtain strong export opportunities, and enhance their abilities to enter the global markets, by financing foreign buyers for Emirati goods and services”.
Referring to the topic of community support, His Excellency mentioned that ADFD adopted a supporting strategy for local community institutions to help to improve their various initiatives and activities related to the development of community members. ADFD has supported 63 initiatives of more than 20 national institutions that are serving various classes of society. HE stressed that ADFD initiatives focus on supporting several areas, including health, education, technology, innovation and scientific research.