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Abu Dhabi / Emirates Business
Abu Dhabi Fund for Development (ADFD), ranked second for UAE foreign aid contributions in 2015 according to a report titled ‘UAE’s Foreign Aid in 2015’ by the Ministry of Foreign Affairs and International Cooperation (MoFAIC).
ADFD’s expenditure amounted to AED2.70 billion (US$736.73 million), other funds and charitable organisations contributed AED1.76 billion and the UAE government, ranked first, with 86.1% market share of total aid disbursed – AED27.84 billion (US$7.57 billion), bringing the cumulative total to AED32.3 billion (US$8.8 billion).
Remarking on the results, His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development, said: “Our leadership’s guidance, directives and vision has ensured the UAE’s leading role towards global development and humanitarian assistance. Their global outlook and perseverance in philanthropy has helped steer ADFD towards its mission to support and fund sustainable socio-economic growth.â€
He lauded the Fund’s AED2.7 billion contribution in 2015 to maintain its commitment and dedication to development work. His Excellency Mohammed Saif Al Suwaidi clarified that alongside ADFD’s main objective of administering concessionary loans for developing countries, it also manages the UAE’s government grants.
Furthermore, commending the UAE’s sound policy of aid distribution, he added that ‘development aid’ ranks first in UAE foreign aid segments – it totalled AED29.75 billion, leading ahead of ‘humanitarian’ and ‘charitable’ aid with 92 % share.
The Director General also stated that ADFD’s strategy is in keeping with the UAE’s goal towards foreign aid effectiveness. The Fund finances projects in key socio-economic sectors such as education, infrastructure, health and social services, agriculture, transport and renewable energy.
UAE foreign aid in 2015 witnessed Africa receiving the lion’s share; a total of AED25.11 billion, a 70% increase over 2014’s AED14.67 billion. Furthermore, countries on the Asian continent received AED6.63 billion, whereas both Europe and the Americas totalled AED586.94 million.
