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ADFD pens agreement to allocate $20m to AGFUND

ADFD pens agreement to allocate $20m to AGFUND
The UAE is one of AGFUND’s founding countries

UAE – Mubasher: Abu Dhabi Fund for Development (ADFD), the leading national entity for economic development aid, has signed an agreement to provide $20 million (AED 73 million) to the Arab Gulf Programme for Development (AGFUND), a regional organisation aiming to solve human development problems.

The agreement was inked by ADFD director-general, Mohammed Saif Al Suwaidi, and vice chairman of AGFUND, Youssef Al Bassam, at ADFD headquarters in Abu Dhabi, the Emirates News Agency (WAM) reported.

Since 1982, the UAE, one of the programme’s founding countries, has supported its objectivities through its total contributions worth $37 million (AED136 million).

Al Suwaidi, said: "The Fund works alongside its partners and in cooperation with international organisations and funding institutions to assist beneficiary countries in achieving their national priorities.”

He added: “In doing so, we also contribute to ongoing efforts to realise the United Nations’ Sustainable Development Goals, SDGs."