Friday 20 May 2022

ADFD funds $544m educational projects in 50 years

ABU DHABI, January 24, 2022

Abu Dhabi Fund for Development (ADFD) has worked to support international efforts aimed at achieving sustainable development in the education sector around the world during its pioneering 50-year journey. 
To date, it has funded 64 educational development projects that serve the educational sector, with a total of AED2 billion ($544 million) invested across 15 developing countries around the world.
In its report, issued on the International Day of Education on January 24, ADFD emphasised the importance of supporting the education sector, one of the essential pillars for achieving humanitarian and societal progress. 
The Fund also aims to develop the capabilities of individuals and to qualify future generations, empowering them to make societies more stable and productive.
Director General Mohammed Saif Al Suwaidi said: "Given the importance of education in developing and growing communities, it is one of the primary sectors that ADFD is keen to support."
"In line with the fourth objective of our Sustainable Development Goals, which is to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all, the Fund continues to support the education sector by financing several strategic projects that contribute to sustainable economic and social development for developing countries," he stated.
On a local level, ADFD is committed to supporting the UAE education sector in order to fulfil the country’s education strategies and empower future generations. As key drivers of the development process, the Fund has continued to assist UAE organisations, enhancing their activities and their operational sustainability across many fields. 
During the past year, despite the pandemic's challenges, ADFD extended around AED53 million in financial support to Bloom Education, making it the first company to benefit from the Fund's AED1 billion initiative, launched in 2020.
This financing helped Bloom Education overcome the teaching challenges posed by Covid-19 and strengthen its financial position, enabling it to play its part in supporting the national economy.
The following examples are the outstanding projects funded by ADFD in education sector: University Housing Project in Mohammedia – Morocco ADFD has provided AED26 million to construct a university district within the Mohammed VI University of Health Sciences campus. 
The project undertaken by the Sheikh Khalifa bin Zayed Foundation in Morocco, designed to the highest international standards, aims to provide high-quality accommodation for 866 students from areas surrounding the city of Mohammedia, enabling them to complete their higher education.-TradeArabia News Service


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