Abu Dhabi Fund for Development marks 50th anniversary

Abu Dhabi - ADFD’s projects bring about profound change in lives of millions of people through improving quality of life of local communities

Ministers and key officials of several developing countries across the globe have lauded the efforts of 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 programs.

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.

Sheikh Salman bin Khalifa Al Khalifa, minister of Finance and National Economy in the Kingdom of Bahrain, highlighted the historical ties between the Kingdom of Bahrain and the UAE, noting that the fund has significantly contributed to enhancing these relations through promoting economic growth. "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.”

For her part, Rania A. Al-Mashat, minister of International Cooperation, 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 Dh1.8 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 Dh2.3 billion in technical assistance as part of its support for Egyptian Government’s efforts to stimulate growth in strategic sectors.”

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.

He added that since 1974, ADFD has provided Jordan with a funding portfolio worth $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 $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.

Ousmane Mamoudou Kane, minister of Economic Affairs and Promotion of Productive Sectors in Mauritania, said that the 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 wish the government and people of the UAE further progress and prosperity,” he said.

Since 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.

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 economic and social standing of local communities.

He added that ADFD's assistance has enabled them 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.”

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.

rohma@khaleejtimes.com