Mansour bin Zayed chairs Board of Directors Meeting of Abu Dhabi Fund for Development


Under the Chairman of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, the Board of Directors of Abu Dhabi Fund for Development held its second session for the year 2014.

The meeting was held to discuss a number of important topics on the agenda, foremost among these being following-up on the implementation of the Board's decisions at its first meeting, which was held on the 11th of June, 2014.

The meeting, which was attended by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister and Deputy Chairman of the Board of Directors of the Fund, ratified the minutes of the first meeting.

The meeting discussed a number of private applications for funding some development projects in various developing countries and took appropriate decisions regarding them in accordance with the plan and the budget of the Fund's work.

The meeting also covered a discussion of the estimated budget for the next year 2015.

Sheikh Mansour stressed that the Fund continues to follow in the footsteps laid by the late Sheikh Zayed bin Sultan Al Nahyan, in supporting the development process in developing countries.

Sheikh Mansour added that the development projects funded and supervised by the Fund in different countries of the world is a clear evidence of the UAE's keenness to activate and strengthen international cooperation in ensuring decent life for all the people in the world through financing and implementing development projects, which can have wide social and economic impact and meet the needs of the peoples of these countries and their development priorities.

Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, said that the Fund played a vital role in supporting the economies of the developing countries through providing loans, government grants and managing the implementation of the development projects to support economic and social development in these countries and to provide job opportunities, as well as to raise the standard of living of their peoples.

Al Swaidi said that the total loans and grants provided by the Fund during the past decades reached about AED64 billion dirhams, covering funding for 417 development projects in 71 developing countries around the world.

The meeting held at the Ministry of Presidential Affairs was attended by the members of the Board of Directors, including Sheikha Lubna bint Khalid Al Qasimi, Minister of International Cooperation and Development (MICAD), Saeed Eid Al Ghafli, Khalifa Mohammed Al Kindi, Issa Al Suwaidi, Faris Mohammed Al Mazrouei, Fawzyia Hamad Al Mubark and Saeed Mohammed Al Mazrouei.
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