Abu Dhabi Fund for Development marks 50th anniversary of founding

Abu Dhabi Fund for Development marks 50th anniversary of founding

ABU DHABI, 22nd August, 2021 – Ministers and key officials of several developing countries across the globe have lauded the efforts of the Abu Dhabi Fund for Development (ADFD) in driving sustainable economic development in their countries.
Noting that the fund has played a significant role in financing thousands of development projects across strategic sectors, they highlighted the profound change brought about by ADFD-funded projects on the lives of millions of people from local communities, allowing the beneficiary countries to achieve their development plans and programmes.
As ADFD marks the 50th anniversary of its founding, the officials said that the Fund’s efforts in the development arena over the past five decades have delivered remarkable economic and social benefits. Through its partnerships, ADFD has effectively contributed to the Sustainable Development Goals (SDGs) of the United Nations and helped communities overcome the challenges on the path of progress and prosperity.
Key Strategic Projects

Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy of Bahrain, highlighted the historical ties between the Bahrain and the UAE, noting that the Fund has significantly contributed to enhancing these relations through promoting economic growth. He reiterated that the economic relations between Bahrain and the UAE have historical significance and are set to reach new heights given the keen interest taken by the leaderships of both sides to strengthen cooperation and sustainable development in various sectors, with a particular emphasis on economic and development domains.
The Minister also applauded ADFD’s active role and valuable contributions to various development projects in Bahrain, helping the Kingdom stimulate economic growth.
He added, “ADFD has always been a major contributor to the various development projects implemented by the government of Bahrain to drive sustainable growth in key economic and social sectors, notably the projects implemented within the framework of the Gulf Development Fund for Bahrain. Covering vital sectors, the Fund’s contributions have resulted in the timely implementation of several strategic projects aimed at supporting the Bahraini government’s tireless efforts to achieve sustainable development in the Kingdom.”
Landmark Projects

For her part, Rania A. Al Mashat, Minister of International Cooperation of Egypt, extended her best wishes to ADFD on its 50th anniversary, noting that the Fund has played a meaningful role in fostering economic development in various countries around the world through financing strategic projects that contribute to the sustainable socio-economic development of the beneficiary countries.
Al Mashat said, “Since the development cooperation between ADFD and the Egyptian Government began in 1974, both sides have chartered together a unique success story. During this period, the Fund has allocated AED1.8 billion towards the development of many landmark projects across various sectors in Egypt including housing, roads, agricultural development, among others. The Fund has also extended AED2.3 billion in technical assistance as part of its support for the Egyptian Government’s efforts to stimulate growth in strategic sectors.”
Financing Priority Projects

Nasser Shraideh, Minister of Planning and International Cooperation in Jordan, described ADFD as one of the most prominent development organisations at the regional and global levels, noting that the relations between the Jordanian Government and the Fund dated back to 1974. Since then, the Fund has been a key partner of the Jordanian government in its efforts to achieve sustainable development in the Kingdom, standing by Jordan in the time of need, especially following the outbreak of the COVID-19 pandemic.
Despite this crisis, the Fund has continued its contribution to the development of Jordan through providing concessional loans and managing the government grants provided by the UAE to support priority projects identified by the Jordanian Government.
The Minister added that since 1974, ADFD has provided Jordan with a funding portfolio worth US$150 million including concessional loans to support development projects in sectors as diverse as infrastructure, health, education, industry, mining, water and irrigation to support the Jordanian Government’s development priorities. The Fund is also managing the US$1.25 billion UAE Government contribution to the Gulf Development Fund for Jordan that supports projects in sectors such as energy, infrastructure, water and irrigation, public education, higher education, and healthcare.
The Minister noted that ADFD is also supporting Jordan as part of the UAE’s pledge announced during the Makkah Summit. The projects implemented as part of this pledge have translated into tremendous economic and social benefits for the Kingdom and enabled the Jordanian Government to achieve its development objectives in priority sectors to drive the growth of the Jordanian economy, while ensuring easy access to basic services to Jordanian citizens.
Launching Numerous Development Projects

Ousmane Mamoudou Kane, Minister of Economic Affairs and Promotion of Productive Sectors in Mauritania, stated, “ADFD has contributed to many important development projects in Mauritania since the seventies of the last century as we enjoy outstanding relations that date back to 1974. These relations have translated into numerous projects spanning industry, transportation, agriculture, water and electricity, helping Mauritania accelerate the development process in the country.”
He added, “ADFD has helped bridge the geographical distances between the UAE and Mauritania, setting a successful model for Arab-Arab cooperation in sustainable economic development through supporting projects that improve people’s living standards. These projects have significantly benefited the local population and promoted economic development in the country, validating the instrumental role played by ADFD as a key partner for development in Mauritania. We look forward to strengthening our cooperation with the Fund and with the government and people of the UAE to further progress and prosperity.”
Remarkable Projects

Dr. Renganaden Padayachy, Minister of Finance, Economic Planning and Development of Mauritius, said, “Since the 1980s, ADFD has played a prominent role in promoting sustainable development in Mauritius through financing strategic projects in various sectors including water, renewable energy and health.
“Of these projects, the Mare aux Vacoas Water Plant is the largest source of drinking water in Mauritius. In 2019, ADFD allocated $10 million towards the development of a photovoltaic power project that is anticipated to benefit about 11,000 families and will help the country reduce its reliance on imported fossil fuels. The Fund has also extended financing support worth $21 million towards the construction of a state-of-the-art eye hospital that will be built according to the latest international standards,” he added.
Support for Development Projects and Programmes

Omar Perotti, Governor of Santa Fe Province in Argentina, said that ADFD has immensely contributed to the sustainable development of different countries around the world. Both Argentina and the Fund maintain outstanding relations and ADFD-supported projects in Argentina have heralded a profound shift in the lives of local communities in the country.
“We invite ADFD Director-General to visit Argentina and get a firsthand account of the impact made by the infrastructure projects supported by the Fund on the lives of its population across economic, social and cultural sectors as well as the overall development of the province.”
Monumental Efforts

Abdulla Shahid, Minister of Foreign Affairs of the Maldives, expressed his appreciation for ADFD’s monumental efforts to help developing countries achieve sustainable development and improve the economic and social standing of local communities.
He added, “ADFD has remained a key development partner of the Maldives since 1976 through providing invaluable social and economic assistance to the island in the form of financial aid and technical expertise. This assistance has enabled us to carry out major development projects in areas spanning renewable energy, sustainable development, infrastructure and communication, and create numerous job opportunities for the local population. We look forward to strengthening our ties with the Fund and exploring new avenues of bilateral cooperation.”
Building Sustainable Future

Gaston Browne, Prime Minister and Minister of Finance of Antigua and Barbuda, said ADFD has actively promoted sustainable development across the globe since 1971 through supporting a wide range of strategic development projects and investing in several countries.
He noted that the Fund has adopted an effective strategy to enable developing countries to overcome development challenges and ensure access to financial resources. As part of the UAE-Caribbean Renewable Energy Fund, ADFD financed the development of a hybrid power plant in Antigua and Barbuda with a capacity to generate 8 megawatts of wind and solar energy. Such projects have come a long way in supporting the renewable energy sector in the Caribbean countries that rely on fossil fuel to meet their electricity needs, reduce carbon footprint and tackle climate change issues.
Over the past five decades, ADFD’s development efforts and initiatives have helped several developing countries build a sustainable future. The Fund’s successful track record in promoting sustainable development in 97 countries validates the vision of the UAE’s wise leadership and the determination of ADFD management to navigate its way to success despite all challenges. May the next 50 years ahead bring ADFD even more success.
Strategic Development Partner

Gabriel Curtis, Minister in charge of Investment and Public-Private Partnerships of Guinea, noted that ADFD has become the most important strategic development partner for Guinea since the UAE hosted the Development Partners and Investor Conference in Abu Dhabi in November 2013.
He added, “ADFD has played a key role in the development of Guinea through implementing a host of important projects within a short period. These projects have helped the country to enhance its energy supplies, advance the mining sector through investing in local resources, develop agro-industrial capabilities and provide safe drinking water in remote areas. To build on these outstanding relations, we are keen to step up our collaboration with ADFD in the area of project implementation, with a focus on infrastructure, energy, food security and community development.”
Working Together in Areas of Common Interest

Mohammed Amin Abdullah Al-Karib, Sudanese Ambassador to the UAE, said, “ADFD’s work has been a cornerstone in the UAE’s cooperation with other countries including Sudan. The strategic relations between the Government of Sudan and ADFD have remained strong for more than four decades and the Fund has been a key financer of many development projects that contributed to the sustainable development of economic and social sectors in Sudan. Our relations have grown from strength to strength in recent years and have become a perfect model for Sudan’s collaboration with similar organisations.”
He added, “ADFD’s contributions to the development of Sudan date back to 1976 when the Fund financed the development of the national highway project linking the Sudanese capital Khartoum with Port Sudan, the country’s main port. Since then, ADFD has consistently contributed to the development of Sudan by carrying out several large-scale projects such as the Merowe Dam project. ADFD’s crucial role in supporting various economic and social activities in Sudan is evident in the country’s infrastructure, industry, energy, healthcare, agriculture and other sectors. We look forward to working together with ADFD management in several areas of common interest for both sides.”
Committed to Promoting Cooperation

For his part, Emmanuel Hategeka, the Ambassador of Rwanda to the UAE, said the cooperation between ADFD and the Government of Rwanda has received a significant boost over the past few years due to the Fund’s meaningful role in implementing many strategic projects in Rwanda, including the US$14 million development of Kigali International Airport in 1981, and the signing of a US$15 million loan agreement to develop a strategic road project.
” These projects have been vital to the economic and social development of Rwanda by supporting several small and medium-sized companies that operate in trade, travel, tourism, and food security sectors. As the country is pursuing its ambitious Rwanda Vision 2050, we are grateful for the support provided by the UAE to Rwanda through Abu Dhabi Fund for Development,” he explained.
He added, “Rwanda has made notable strides in development trajectory, becoming one of the ten fastest-growing economies in Africa thanks to its security, government performance, and business and investment-friendly regulations. Through our partnership with ADFD, Rwanda is committed to promoting cooperation and investments and yielding further gains from our joint efforts.”
Overcoming Challenges

Trukon A. Kpui, Minister of State in Liberia, conveyed his best wishes to ADFD on the occasion of its 50th anniversary, noting that Liberia is among the developing countries that have benefited from the Fund’s development support to overcome the challenges posed by the COVID-19 pandemic on the global economy.
He added, “ADFD financed a project to improve access to social services in Liberia through developing dedicated facilities that offer recreational services to the local population, enhancing social relations and developing sporting talents in Monrovia in Liberia. ADFD’s effective follow up and implementation of these projects demonstrate its commitment to promoting sustainable development. The Government of Liberia takes a keen interest in strengthening its cooperation with the Fund in future.”
Strategic Economic Partnerships

ADFD is working with the governments of developing countries to strengthen economic partnerships and finance strategic development projects in vital sectors. These projects are managed in collaboration with the governments of the beneficiary countries to ensure their effective implementation in line with the set plans. ADFD’s projects are focused on key sectors that directly contribute to sustainable development such as education, housing, water and electricity, agriculture, transportation, industry, and renewable energy.

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