On the occasion of the 50th anniversary of Abu Dhabi Fund for Development (ADFD), ministers and other government officials noted that the UAE has effectively contributed to supporting the implementation of the 2030 Agenda for Sustainable Development in developing countries. In this context, they highlighted the crucial role of ADFD in establishing the UAE as the world’s largest donor of development aid relative to national income by financing a host of pioneering initiatives and projects across the globe.

The officials attributed the historical achievements of the Fund over the past five decades to the wisdom and future-oriented vision of the founding father of the UAE, late Sheikh Zayed bin Sultan Al Nahyan, the support of the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the continuous follow-up of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

They pointed out that owing to the support of the wise UAE leadership, ADFD has become one of the most prominent development institutions in the world, and a key contributor to building the economies of developing countries and strengthening the UAE’s economic partnerships worldwide.

Through its development and investment activities, the Fund has financed thousands of strategic projects that led to sustainable socio-economic growth in 97 countries around the world, while the volume of its development funds and investments has doubled to reach about AED150 billion.

Driving sustainable development across all sectors

Congratulating ADFD on its 50th anniversary, His Excellency Ahmed Juma Al Zaabi, Minister of Federal Supreme Council Affairs, said: “The Fund’s golden jubilee coincides with the celebrations of the 50th anniversary of the establishment of the UAE by  Sheikh Zayed and his brothers, the founders of the Union. His Highness Sheikh Khalifa bin Zayed Al Nahyan continues the path the leaders laid out for our nation, which has enabled the country to achieve outstanding results in all vital sectors and strengthen its prestigious global standing.”

He added: “Under the direction of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of ADFD Board of Directors, the Fund has contributed to conveying the UAE’s message of solidarity to the world. It has made great strides in supporting the economies of developing countries through financing and investing in pioneering development projects.”

His Excellency Ahmed Juma Al Zaabi noted that the UAE follows the directives of its wise leadership to help achieve the Sustainable Development Goals (SDGs) in all brotherly and friendly countries, which contributes to improving people’s lives and consolidating the nation’s position among the leading donors of international development aid.

International cooperation ambassador

Her Excellency Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, said: “Since its establishment, ADFD has been one of the leading global institutions in driving comprehensive sustainable development in developing countries, one of the most important pillars of the UAE’s foreign relations and the nation’s ambassador of international cooperation. Throughout the five decades of its existence, the Fund has conducted its work with the utmost efficiency and responsibility, and highlighted the effective role of the UAE on the international scene.”

She added:“ADFD’s projects and programs also contributed to achieving the Millennium Development Goals until 2015. The Fund continues to support the SDGs and the 2030 Agenda for Sustainable Development, in addition to projects implemented in collaboration with the governments of the beneficiary countries, and in partnership with local, regional and global institutions and funds concerned with international development financing.”

Her Excellency Reem bint Ebrahim Al Hashimy pointed out that ADFD has adopted a diversified investment strategy that played an important role in boosting the economy of the UAE and multiple developing countries.

Promoting economic development

His Excellency Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said: “ADFD drives economic development locally and globally by financing projects and fostering investment partnerships. The Fund also contributes to implementing Abu Dhabi’s and the wider UAE’s policy of supporting development plans in the infrastructure, energy, education and healthcare sectors in cooperation with international institutions. Furthermore, it plays a key role in strengthening the national economy by promoting the use of locally manufactured products in its projects through Abu Dhabi Exports Office (ADEX).”

He expressed expectations that ADFD will continue to provide aid for the next 50 years, and support the development aid policy pursued by the UAE’s wise leadership through its innovative strategies.

Addressing the climate change challenge

His Excellency Dr Abdullah Belhaif Al Nuaimi, Minister of Climate Change and Environment, said: “For five decades, ADFD has been integral to the UAE’s journey of driving global development. It has become a crucial supporter of financing and implementing projects aimed at enhancing the standards of living in developing countries. The Fund actively participates in the UAE’s efforts to confront the climate change challenge by promoting the deployment of renewable energy solutions in developing countries.”

A driver and catalyst of the national economy

His Excellency Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said: “ADFD’s pioneering achievements over five decades clearly demonstrate the wisdom and foresight of Sheikh Zayed bin Sultan Al Nahyan. As a landmark national entity, ADFD has continually supported sustainable development across the globe.

“Sustainable development has been at the core of the policies of the UAE and its unique example of commitment to sustainable development goals. ADFD has led important development initiatives that helped advance economic growth in developing countries and achieve their development goals resulting in the UAE’s global leadership as a development and humanitarian aid provider.

“Today, the Fund plays a pivotal role as a driver and catalyst of the national economy and a supporter of local industries through its programs and initiatives aimed at financing UAE exports, enhancing their competitiveness and multiplying their contribution to the country’s GDP. With the launch of the new strategy of the Ministry of Industry and Advanced Technology, the UAE is set to emerge as a regional and global hub of advanced industries, while fulfilling the country’s development goals in the next fifty years and beyond,” he added.

Improving quality of life

His Excellency Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said: “For five decades, ADFD has supported the UAE’s and its wise leadership’s vision to assist developing countries in achieving sustainable development, improving quality of life, boosting income, and driving progress and prosperity. The Fund has channelled its financing and investments to the infrastructure, education, healthcare, housing, energy and transportation sectors in beneficiary countries. Its projects have had a significant impact on the economic development of 97 nations around the world.”

He added: “ADFD has also contributed to strengthening trade and economic partnerships while expanding the scope of local companies and enabling them to enter new markets by providing unique financial products and services, and facilitating access to robust export opportunities for foreign investors to increase the volume of foreign trade. This has bolstered the positioning of UAE products in various countries in line with the country’s economic diversification policy.

He noted that the Fund has also been a key driver of the national economy, enhancing its performance, increasing its competitiveness and advancing its diversification.

Consolidating the UAE’s position on the global stage

His Excellency Ahmed bin Ali Al Sayegh, Minister of State, said that ADFD has played a pivotal role in helping developing countries achieve sustainable socio-economic growth through building productive partnerships.

He added: “The Fund’s success in enhancing living standards and driving global development has cemented the UAE’s position as a major player within the international aid community.We are confident that ADFD’s importance will continue to grow as our country moves steadily towards its strategic goal of advancing inclusive and sustainable development worldwide.”

Strengthening the role of the private sector

His Excellency Mohamed Helal Al Mheiri, Director General of the Abu Dhabi Chamber of Commerce and Industry (Abu Dhabi Chamber), said: “ADFD is a keen supporter of the UAE’s policy of promoting socio-economic growth in developing countries. The Fund has rolled out multiple pioneering initiatives and financed projects that contributed to sustainable development at the local, regional and global levels.”

He commended ADFD for launching ADEX, a pioneering economic entity that has achieved a qualitative leap in advancing the UAE’s economic diversification, reducing dependence on oil as a source of income, enhancing the competitiveness of national exports in foreign markets and consolidating the country’s position on the global trade map.

Abu Dhabi Chamber was the first to sign a cooperation agreement with ADEX, aimed at assisting national companies in developing their export activities.

Supporting economic diversification policy

Supporting the national economy and enhancing its competitiveness is a strategic objective of ADFD within the framework of the UAE’s economic diversification policy, one of the pillars of the country’s pioneering economic model. Over the past years, the Fund has rolled out initiatives and developed new tools to boost the growth of the national economy by strengthening the role of the private sector as an effective strategic partner in the development process. One of the main tools is expanding the scope of work of national companies by enabling them to develop and implement projects in the countries benefiting from ADFD’s financing. The Fund also leverages its partnerships and initiatives to enhance the position of these companies and create investment opportunities for them worldwide.

Advancing global energy transition

His Excellency Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA), said: “ADFD has played a pivotal role in achieving positive socio-economic outcomes that support sustainable development. Within the framework of the IRENA/ADFD Project Facility, the Fund has allocatedUS$350 million to projects that provide clean energy to more than four million people in 26 countries. Each project has had a significant impact on the lives of people and communities.”

He added: “As a global hub for renewable energy financing, the UAE seeks to lead the global energy transition and direct capital towards establishing a low-carbon energy system. These ambitions support IRENA’s mission to accelerate the energy transition towards implementing the SDGs during this decade and achieving climate goals by the middle of this century. The synergy between our two institutions serves as a model for future cooperation aimed at delivering strong support to countries that need it most.”

Renewable energy solutions

In cooperation with IRENA, the Fund has launched theUS$350 million ADFD/IRENA Project Facility to support renewable energy projects in line with the UAE’s policy of promoting the deployment of clean energy and accelerate the transition to renewables at the global level. The initiative achieved significant and large-scale results, and enabled developing countries to use renewable energy, which led to the reduction of harmful greenhouse gas emissions that are among the main causes of climate change. In addition, the Fund contributed to financing initiatives to support clean energy projects with a total value of US$100 million in 27 Pacific and Caribbean countries.