ADFD's Cumulative Development Financing Hits AED 216.5 Billion Benefitting 107 Countries Worldwide

The Abu Dhabi Fund for Development (ADFD) has released its 2024 Annual Report, highlighting its achievements in promoting strategic objectives aligned with the UAE’s foreign aid policy. The report showcases ADFD's essential role in supporting global sustainable development and improving life quality worldwide.

By the end of 2024, ADFD's cumulative development financing reached AED 216.5 billion, benefiting 107 countries across various continents. This total includes AED 157 billion in concessional loans, AED 57.6 billion in government grants, and AED 1.9 billion in direct contributions. These funds supported strategic projects in crucial sectors such as renewable energy, infrastructure, education, technology, and water security.

ADFD remains dedicated to bolstering the national economy and fostering long-term growth for Emirati companies while enhancing their international presence. In this context, ADEX allocated AED 4 billion by the end of 2024 to support UAE national exports, facilitating access to over 40 global markets. Additionally, ADFD prioritised the UAE private sector by allocating AED 6 billion in financing, benefiting 19 Emirati companies executing strategic projects across eight countries.

From an investment standpoint, the Fund experienced robust growth with total investments reaching AED 12.2 billion across 22 countries. ADFD currently invests in 17 companies across various sectors, which helps strengthen financial resources and stimulate key economic activities in partner nations.

His Highness Sheikh Mansour bin Zayed Al Nahyan reflected on the report: "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." He added that President His Highness Sheikh Mohamed bin Zayed Al Nahyan continues this legacy of giving.

H.H. Sheikh Mansour also 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." He emphasized strengthening partnerships with international organizations to establish a sustainable developmental impact.

Strategic Achievements

H.H. Sheikh Abdullah bin Zayed Al Nahyan noted: "ADFD continues to achieve more milestones using its developmental and economic tools to enhance the UAE’s position regionally and internationally." He highlighted that thanks to visionary leadership, the Fund has become a model for financing vital projects that create lasting impacts.

In 2024, ADFD made significant efforts to help countries overcome economic challenges by financing major developmental projects with sustainable impacts in areas like energy, water, infrastructure, education, technology, food security, and other key sectors contributing to Sustainable Development Goals.

Awards and Recognition

The ADFD received global recognition through the United Nations Small Island Developing States (SIDS) Partnerships Award for its renewable energy initiatives in Pacific and Caribbean islands. This marks the first time an institution from the Middle East and North Africa region has received this award.

Mohamed Saif Al Suwaidi commented: "The achievements of ADFD are a testament to the UAE’s unwavering commitment to sustainable development." He credited President His Highness Sheikh Mohamed bin Zayed Al Nahyan's visionary leadership as instrumental in enabling ADFD's success.

Future Outlook

In line with its forward-looking vision for institutional development, ADFD launched a new corporate identity under "Shaping the Future Together," reaffirming its commitment to supporting Sustainable Development Goals by 2030. Building on decades of impact, ADFD advances its mission guided by an integrated strategy reflecting UAE leadership's ambition to establish it as a globally recognized institution.

The strategy aligns with UAE’s foreign aid policy focusing on impactful development outcomes both internationally and domestically aimed at building prosperous societies for future generations.

With inputs from WAM