Sheikh Abdullah Bin Zayed Guides ADFD's First 2024 Meeting On Global Development

The Executive Committee of Abu Dhabi Fund for Development (ADFD) convened virtually for its inaugural 2024 meeting under the leadership of H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, Vice Chairman of the ADFD’s Board of Directors, and Chairman of the Executive Committee. The session saw the participation of key figures including Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State; Ahmed Ali Al Sayegh, Minister of State; Fares Mohammed Al Mazrouei, Advisor to the Presidential Court, alongside other committee members and Mohamed Saif Al Suwaidi, Director-General of ADFD.

During this meeting, a range of topics were deliberated upon, notably project funding requests from developing countries. This led to the adoption of significant resolutions aimed at furthering development efforts. H.H. Sheikh Abdullah bin Zayed highlighted the pivotal role played by ADFD under the guidance and leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mansour bin Zayed Al Nahyan. Their unwavering support has been crucial in positioning the UAE as a leading example in global development work, thereby fostering the growth and progress of communities in developing nations.

Furthermore, H.H. Sheikh Abdullah underscored ADFD's instrumental role in bolstering the national economy by enhancing the competitiveness of UAE exports in international markets. The Fund has also been pivotal in supporting the national private sector to achieve strategic goals and providing it with opportunities for both local and international expansion. These initiatives have significantly contributed to the increase in foreign trade and have aided UAE companies in their business advancement, ultimately promoting a diversified and sustainable economy.

Mohamed Saif Al Suwaidi expressed his gratitude towards H.H. Sheikh Abdullah bin Zayed for his continuous support which has enabled ADFD to strategically broaden its core operational activities. This expansion has not only contributed to the growth of the national economy but also to those of developing countries.

Al Suwaidi pointed out that ADFD has notably accelerated its development and investment activities in recent years. The total sum of development financing and investments has exceeded AED216 billion, benefiting 106 countries across various continents. These contributions have solidified the UAE's position as a leading contributor to global development assistance.

This meeting underscores the UAE's commitment to fostering global development and prosperity through strategic investments and funding. The efforts of ADFD, guided by visionary leadership, continue to make significant impacts on both national and international levels, promoting sustainable economic growth and development across numerous countries.

With inputs from WAM