In the foreword of the Abu Dhabi Fund for Development’s (ADFD) Annual Report, HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Abu Dhabi Fund for Development (ADFD), emphasised that the UAE’s aid to developing countries, which continues regardless of any other factors, represents the country’s unique approach to international development aid.
His Highness went on to point out that 2013 witnessed various different developments, spearheaded by the return of the US economy coming out of recession and the success of the European Union in reducing the impact of the sovereign debts crisis.
However, global economic recovery is still very fragile, to the extent that it may yet affect the economic performance of developing countries, whether by continuing slow demand on their raw material exports, or through the flow of international investment being at a lower level than in the period prior to the 2008 global financial crisis.
In addition, many of the leading donor countries, especially in the industrial world, continue to prioritise the process of ensuring the recovery of their own economies at the expense of other issues, including that of providing assistance to developing countries.
