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Abu Dhabi Fund approves finance for new projects

DUBAI, December 30, 2018

The Abu Dhabi Fund for Development (ADFD) has allocated funds for the successful implementation of sustainable projects in a number of developing countries in a bid to ensure decent lives for their people.

The announcement was made by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, at the recent ADFD board meeting held in the Presidential Affairs Ministry's premises.

The meeting addressed the status of the projects being funded by the ADFD in several countries along with future plans. A number of funding requests involving developmental projects overseas has been approved in line with the fund's budget and action plan.

It was attended by Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and ADFD Deputy Chairman, along with the Fund board members and Director-General.

"The fund is pursuing the same approach pioneered by late Sheikh Zayed bin Sultan Al Nahyan to finance the sustainable development drive in a number of developing countries and ensure decent life for their peoples," said Sheikh Mansour, who is also the ADFD chairman.

He underlined the ADFD's keenness to continue to finance and carry out developmental projects that significantly contribute to meeting the socio-economic needs of sisterly and friendly countries.

Secretary general Mohamed Saif Al Suwaidi said the ADFD was implementing Sheikh Mansour's directives to efficiently support the national economy and sustain the country's diversification efforts in line with the UAE Vision 2021 and Abu Dhabi Economic Vision 2030.

Since its establishment, it had provided Dh83 billion ($22.5 billion) in funds and investments to around 88 countries across the globe, he added.-TradeArabia News Service

Tags: UAE | finance | Abu Dhabi fund | new projects |

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