ADFD's cumulative development financing hit Dhs216.5 billion, benefitting 107 countries

Gulf Today

2 days ago

Abu Dhabi Fund for Development (ADFD) has published its 2024 Annual Report, showcasing its pioneering achievements in advancing strategic objectives aligned with the UAE's foreign aid policy. The report underscores the ADFD's vital role in supporting global sustainable development and enhancing the quality of life for communities worldwide.
The report emphasizes ADFD's significant contributions to major national agendas, including the UAE Export Development Policy, UAE Centennial 2071, and Abu Dhabi Economic Vision 2030. These efforts are led by the Abu Dhabi Exports Office (ADEX), part of Abu Dhabi Fund for Development (ADFD), aimed at strengthening the global competitiveness of the UAE's industrial sector.
By the end of 2024, ADFD's cumulative development financing reached Dhs216.5 billion, benefitting 107 countries across various continents. This total comprises Dhs 157 billion in concessional loans, Dhs 57.6 billion in government grants, and Dhs 1.9 billion in direct contributions. The financing supported strategic projects in critical sectors including renewable energy, infrastructure, such as housing, transportation, education, technology, and water security —helping to drive economic growth and improve quality of life in partner nations.
ADFD remains committed to supporting the national economy and the long-term growth of Emirati companies, while enhancing their international reach. In this context, ADEX allocated Dhs 4 billion in financing by the end of 2024 to support UAE national exports, facilitating access to over 40 global markets. ADFD also prioritised the role of the UAE private sector, allocating Dhs 6 billion in financing, which benefitted 19 Emirati companies implementing strategic projects across 8 countries.
From an investment perspective, the Fund saw robust growth, with total investments reaching Dhs 12.2 billion across 22 countries. ADFD currently invests in 17 companies across a range of sectors, helping to strengthen financial resources, stimulate key economic activities in partner countries, and create sustainable job opportunities for local communities.
In a strategic reflection on the 2024 Annual Report, His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of ADFD's Board of Directors, said: 'Late Sheikh Zayed bin Sultan Al Nahyan believed that the essence of civilized progress is measured by the value of the individual and their good deeds, whose impact lasts a lifetime. This philosophy formed the foundation upon which Abu Dhabi Fund for Development (ADFD) was established in 1971, transforming it into a developmental institution that embodies the values of the UAE and a shining beacon spreading its sustainable impact around the world. President His Highness Sheikh Mohamed bin Zayed Al Nahyan, follows the same path, carrying forward a legacy of giving, and supporting the objectives of the Abu Dhabi Fund for Development, in a way that achieves global prosperity."
Sheikh Mansour stated: 'The Fund plays an exceptional role in supporting the UAE's foreign aid policy, which is based on principles of development and achieving economic and social stability in developing countries. Additionally, it strengthens partnerships with international and regional organizations to establish a sustainable developmental impact, reflecting the UAE's position as a global force driving sustainable development.'
Sheikh Mansour added: 'Based on its strategic vision, the Fund seeks to expand its operational activities and innovate sustainable solutions that contribute to the development of partner countries. It also continues supporting the national economy by providing innovative financing tools that empower UAE companies to expand and reach new markets.'
Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Foreign Affairs, and Vice Chairman of ADFD's Board of Directors, stated: 'ADFD continues to achieve more milestones, using its developmental and economic tools to enhance the UAE's position regionally and internationally, solidifying its role as an active and influential global player. Thanks to the visionary of the leadership, the Fund has become a pioneering model in adopting a strategic approach to financing vital projects that create a lasting impact and contribute to supporting the developmental programs of developing nations to meet their aspirations and strengthen their infrastructure and economies.'
Sheikh Abdullah added: 'In 2024, the Fund made exceptional efforts to help countries overcome their economic and social challenges, financing many major developmental projects with a sustainable impact in areas such as energy, water, infrastructure, education, , technology, food security, and other key sectors that contribute to supporting the Sustainable Development Goals and improving the well-being of people.'
Sheikh Abdullah also emphasised: 'In addition to the sustainable development impact the Fund has achieved globally, it continues to play a vital role in supporting the national economy by enhancing UAE exports and developing the capabilities of local companies to compete in global markets. That contributes to achieving sustainable economic diversification, benefiting society as a whole.'
On the release of the 2024 Annual Report, Mohamed Saif Al Suwaidi, Director General of ADFD, said: 'The achievements of ADFD are a testament to the UAE's unwavering commitment to sustainable development, a vision set forth by the founding father, Sheikh Zayed bin Sultan Al Nahyan. This foundation paved the way for ADFD to become a key partner of development in emerging countries and a significant contributor to building a prosperous and sustainable future for generations to come.'
Al Suwaidi continued: 'Recent accomplishments reflect the steadfast support of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, whose visionary leadership serves as a beacon of inspiration. Equally, the guidance of H.H. Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of ADFD Board of Directors, has been instrumental in enabling ADFD to provide vital support, enhancing the quality of life for millions of people worldwide and playing a key role in the development of more advanced and resilient societies.'
In a global recognition of its leadership, ADFD received the 2024 United Nations Small Island Developing States (SIDS) Partnerships Award in the economic category for its renewable energy initiatives in the Pacific and Caribbean islands. This is the first time the award has been granted to an institution from the Middle East and North Africa region.
In a move that reflects its institutional development and forward-looking vision, ADFD launched its new corporate identity in 2024 under the slogan: 'Shaping the Future Together', reaffirming its commitment to the UAE's vision for supporting the 2030 Sustainable Development Goals and building a prosperous, sustainable future for people around the world.
Building on decades of impact, ADFD is advancing its global development mission, guided by an integrated and adaptive strategy that reflects the UAE leadership's forward-looking vision and ambition to establish the Fund as a globally recognized national institution in development work and a key supporter of the national economy. Aligned with the UAE's foreign aid policy, the strategy emphasizes impactful development outcomes—both internationally and domestically—aimed at building prosperous, resilient societies for generations to come.