Abu Dhabi Fund for Development has allocated funds worth Dh117.42 billion ($32bn) for various development projects since its inception in 1971, it said on Tuesday.
The funding has benefited 103 countries around the world, ADFD said in a statement as it marked its 51st anniversary.
The state-owned fund has offered soft loans worth Dh58.12bn to developing countries and disbursed Dh59.30bn in government grants.
ADFD was established in July 1971 by Sheikh Zayed, the Founding Father, with the aim of helping developing countries strengthen their economies by providing concessionary loans for development projects as well as through long-term investments and direct contributions.
The fund’s total loans, investments and deposits currently amount to Dh185.2bn, it said.
“We are steadily moving towards achieving our future aspirations and the UAE’s ambitious vision to support developing countries over their aspirations for progress,” said Mohamed Al Suwaidi, ADFD's director general.
ADFD, an autonomous national entity, has invested Dh11.7bn in several sectors through six financial tools in the past 51 years.
It has also invested in 14 strategic companies, while the geographical area of investment encompasses 23 countries, the statement said.
Over the years, ADFD has also deposited money in the central banks of some countries to help them stabilise foreign-currency reserves. The total amount of these deposits stands at Dh56.1bn.
Besides managing development grants given by the Abu Dhabi government, ADFD said it has adopted a policy of supporting the national economy by driving private-sector investments, financing national exports and enabling exporters to expand into global markets.
At the national level, it has created various opportunities for Emirati companies, providing loans worth more than Dh1.9bn to help them expand both inside and outside the country.
The Abu Dhabi Exports Office (ADEX), the export-financing arm of ADFD, has also played a key role in increasing the volume of exports as it supports the UAE's efforts to diversify the national economy.
ADEX, which has provided financing worth Dh316 million to Emirati companies, also provides financing solutions and guarantees to importers of local products and services.
ADFD is also collaborating with a number of local and international companies.
Last month, in association with Abu Dhabi’s Masdar, ADFD committed to supporting the International Renewable Energy Agency's $1bn Energy Transition Accelerator Financing platform, which aims to support new renewable energy projects in developing countries.
ADFD has previously completed renewable energy projects in a number of locations, including Cuba, Somalia, the Bahamas, Barbados, and Saint Vincent and the Grenadines.
The fund also said last month that it had completed a $70m project for the refurbishment and expansion of two grain silos in Jordan, as the country seeks to raise storage capacity in response to current food supply problems.
In January, it formed a $104.8m joint venture with Bangkok-based Minor International Public Company Limited to invest in five tourist resort assets in Thailand.
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
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Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
T20 SQUADS
Australia: Aaron Finch (c), Mitchell Marsh, Alex Carey, Ashton Agar, Nathan Coulter-Nile, Chris Lynn, Nathan Lyon, Glenn Maxwell, Ben McDermott, D’Arcy Short, Billy Stanlake, Mitchell Starc, Andrew Tye, Adam Zampa.
Pakistan: Sarfraz Ahmed (c), Fakhar Zaman, Mohammad Hafeez, Sahibzada Farhan, Babar Azam, Shoaib Malik, Asif Ali, Hussain Talat, Shadab Khan, Shaheen Shah Afridi, Usman Khan Shinwari, Hassan Ali, Imad Wasim, Waqas Maqsood, Faheem Ashraf.
Company%20Profile
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THE%20SPECS
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Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
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5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
Company%20profile
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The lowdown
Bohemian Rhapsody
Director: Bryan Singer
Starring: Rami Malek, Lucy Boynton, Gwilym Lee
Rating: 3/5
Results
Ashraf Ghani 50.64 per cent
Abdullah Abdullah 39.52 per cent
Gulbuddin Hekmatyar 3.85 per cent
Rahmatullah Nabil 1.8 per cent
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
RESULT
Bayern Munich 0 AC Milan 4
Milan: Kessie (14'), Cutrone (25', 43'), Calhanoglu (85')
Tewellah by Nawal Zoghbi is out now.
Eyasses squad
Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)
Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)
Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)
Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)
Jemma Eley – goal attack / wing attack (Dubai College)
Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)
Molly Fuller – goal attack / wing attack (Dubai College)
Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)
Noorulain Hussain – goal defence / wing defence (Dubai College)
Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)
Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)
Eliza Petricola – wing attack / centre (Dubai English Speaking College)
U19 WORLD CUP, WEST INDIES
UAE group fixtures (all in St Kitts)
Saturday 15 January: v Canada
Thursday 20 January: v England
Saturday 22 January: v Bangladesh
UAE squad
Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly, Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya Shetty, Kai Smith
