Date: Tuesday, 12 June 2018
The Abu Dhabi Fund for Development (ADFD) has announced that it financed 11 development projects worth AED1.4 billion ($380 million) in 2017.
Totalling more than AED646 million, four of the 11 projects were allocated as concessionary loans to Egypt, Antigua and Barbuda and the Maldives, the fund said in a statement.
It added that the remaining seven projects were funded via development grants amounting to AED754 million, aiding Colombia, Yemen, Comoros, Eritrea, Somalia, Palestine and Maldives.
This brings the ADFD’s total cumulative development expenditure and investments as of end-2017 to AED83 billion, up AED3 billion over 2016 and expands its reach to 88 beneficiary countries.
Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs and chairman of the ADFD, said that the UAE’s comprehensive international development assistance programmes are guided by "solid principles and sound fundamentals".