Business | Investment
ADFD signs MoU with Grameen Trust
Agreement to tackle poverty in developing nations
- Staff Report
- Published: 00:00 October 13, 2009
- Image Credit: Supplied Picture
- Fawziea Al Mubarak, member of the ADFD board, director of Loans and Equities Department, and Professor Mohammad Yunus, founder of Grameen Bank, sign an MoU.
Abu Dhabi: The Abu Dhabi Fund for Development (ADFD), a national institution under the Abu Dhabi Government aimed at helping finance socio-economic growth projects in developing nations, has signed a Memorandum of Understanding (MoU) with Grameen Trust of Bangladesh.
The MoU aims at defining cooperation between the two parties in mitigating poverty in Bangladesh and developing countries by helping unprivileged communities strengthen sources of livelihood.
Fawziea Al Mubarak, member of the ADFD board, director of Loans and Equities Department, and Professor Mohammad Yunus, Nobel Peace Prize winner and founder of Grameen Bank, signed the MoU in the presence of senior officials of the ADFD and delegates who accompanied Yunus.
Yunus said: "The leadership of Abu Dhabi plays a key leading role in the international efforts to eradicate poverty around the world. They are doing so by launching ambitious initiatives that contribute to socio-economic growth in the developing countries."
Yunus said that joining hands with ADFD marks the beginning of a new global collaboration to mitigate poverty.
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