Abu Dhabi – MENA Herald: His Excellency Arthur Spiro, Australian Ambassador to the UAE, met with His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), at the Fund’s headquarters in Abu Dhabi.
During the meeting, the two sides examined ways of enhancing bilateral cooperation between the UAE and Australia – particularly in the area of development assistance.
Al Suwaidi highlighted that the UAE was ranked as the largest donor of official development aid for two years running in 2013 and 2014 – according to a report issued by the Development Assistance Committee of the OECD. The country’s development aid in 2014 totaled AED18.36 billion (US$5 billion).
Providing an overview of ADFD’s objectives, Al Suwaidi said that the Fund provides concessionary loans and manages government grants to enable the governments of developing countries to achieve sustainable economic growth. In addition, he highlighted the social and economic impact of the projects financed by the UAE on emerging economies and explained the process of managing government grants to ensure proper and timely implementation of the projects.
Al Suwaidi noted that ADFD, since inception in 1971, has supported 78 countries around the world in pursuing their sustainable development goals through the provision of development aid. This has helped the beneficiary countries fulfil the aspirations of their citizens through providing them with an improved livelihood and facilitating long-term and sustainable economic growth.
Al Suwaidi welcomed the interest shown by the Australian government in collaborating with ADFD to promote international development and stressed that such efforts would contribute significantly to helping developing countries fulfil their growth objectives.
For his part, His Excellency Arthur Spiro, Australian Ambassador to the UAE, commended ADFD’s active support for regional and international development efforts that continue to help countries globally achieve sustainable growth.
He added: “Through this interaction with ADFD we hope to forge new ties and ensure close collaboration in areas of mutual interest. We look forward to leveraging ADFD’s long-standing expertise in the area of development assistance globally to create new opportunities for emerging countries. ”