Business | Economy
Abu Dhabi fund provides Dh23b in loans so far
Has helped 53 countries over 37 years
- WAM
- Published: 00:00 December 8, 2009
Abu Dhabi: The total amount of loans, grants and investments financed by the Abu Dhabi Fund for Development (ADFD) and Abu Dhabi Government and managed under the supervision of ADFD during the past 37 years stood at nearly Dh23 billion for 273 development projects in 53 developing countries around the world.
In 2009 alone, the ADFD offered loans totalling Dh334.7 million to projects in Eritrea, Guinea, Benin, Tanzania and Burkina Faso.
The Abu Dhabi Fund for Development was established on the directions of Shaikh Zayed Bin Sultan Al Nahyan in July 1971. Its head office is in Abu Dhabi and it aims to provide assistance to developing countries.
This initiative came out of his strong belief and profound realisation of the necessity to extend assistance to Arab, Islamic and friendly developing countries which face difficulties, challenges and economic development problems.
The main activity of the fund is to provide econ-omic assistance in the form of concessional loans, grants or contributions to projects.
Under the prudent and wise leadership of President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, the Abu Dhabi fund will continue its policy of extending economic help to support regional and international efforts aimed at achieving development goals and fairly participating in the distribution of the world's resources.
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