In March, The Fund celebrated 40 years of working in Bangladesh which has seen 7 projects in the industrial, agricultural, energy and infrastructure sectors supported to the impressive tune of 1/2bn AED to date. 65% of the concessionary loans and grants which make up the bulk of the Fund's support mechanisms, have been on energy and irrigation projects alone.
The emerging South Asian economy is undergoing a rapid economic reform and diversification programme. This work has been boosted by the Fund's support which has really focused on providing enabling infrastructure, which is at the heart of the Fund's approach to long-term, sustainable growth that is acting as a catalyst for further socio-economic development, particularly in rural areas.
ADFD's looks forward to continuing to support the country's impressive development initiatives in the coming years.
The Fund was invited to take part in the prestigious Microcredit Summit, which was held in Abu Dhabi from 15 – 17 March 2016. The Summit focused on how microfinance and access to finance are key to empowering people in many developing countries to grow small companies and enterprises which can act as the bedrock of an economic growth.
The challenges and opportunities of microfinancing as a tool to combatting poverty through growing small companies were debated in detail at the conference with best practices highlighted as case studies for others to follow.
The Fund’s delegation also met with Professor Muhammad Yunus, founder of Grameen Bank that focuses on microfinancing to review areas of cooperation, especially in areas of social policy, including health and education.
The Fund celebrated Mother's Day, which this year fell on March 21. His Excellency Mohammed Saif Al Suwaidi, Director General at ADFD extended his deepest thanks and appreciation to all the mothers in the UAE, those mothers working at ADFD, and balancing home and work life, and to the Mother of the Nation in particular, Sheikha Fatima bint Mubarak. On this occasion, HE also expressed his gratitude to the mothers of all the martyrs for their love and guidance over the years to their sons who have given their lives for this country.
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