Abu Dhabi: 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 ADFD's vital role in supporting global sustainable development and enhancing the quality of life for communities worldwide.
According to Emirates News Agency, 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 ADFD, aimed at strengthening the global competitiveness of the UAE's industrial sector.
By the end of 2024, ADFD's cumulative development financing reached AED216.5 billion, benefitting 107 countries across various continents. This total comprises AED 157 billion in concessional loans, AED 57.6 billion in government grants, and AED 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 AED 4 billion in financing by the end of 2024 to support UAE national exports, facilitating access to over 40 global markets. ADFD also prioritized the role of the UAE private sector, allocating AED 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 AED 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, highlighted the foundational philosophy of ADFD, established by Late Sheikh Zayed bin Sultan Al Nahyan. This philosophy emphasizes the value of the individual and their good deeds, forming the basis of ADFD's mission to spread sustainable impact globally.
H.H. Sheikh Mansour stated that the Fund plays an essential role in supporting the UAE's foreign aid policy, which is based on development principles and achieving economic and social stability in developing countries. The Fund also 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.
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Foreign Affairs, and Vice Chairman of ADFD's Board of Directors, noted ADFD's milestones in enhancing the UAE's regional and international position. The Fund has become a model for financing vital projects that create lasting impacts, supporting the developmental programs of developing nations.
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.
Building on decades of impact, ADFD is advancing its global development mission, guided by an integrated strategy aligned with the UAE's foreign aid policy. This strategy emphasizes impactful development outcomes aimed at building prosperous, resilient societies for future generations.