UAE - Mubasher: The Abu Dhabi Fund for Development's (ADFD) has achieved  AED 150 billion development funding and investments across 97 countries since its establishment in 1971, the Emirates News Agency (WAM) reported.

The Fund has set a diversified investment strategy to stimulate the UAE economy in developing countries, which led to placing the UAE as the first and largest donor of development aid across the world for five consecutive years.

The ADFD has also launched initiatives and new tools to contribute to the national economy's growth by improving the role of the private sector and expanding the businesses of national companies in its beneficiary countries receiving financing all around the world.

Meanwhile, the Fund established the Abu Dhabi Exports Office (ADEX) to support national companies and build a diversified and sustainable economy by offering financing solutions to importers of Emirati products and services.

ADFD has supported renewable energy projects, in cooperation with the International Renewable Energy Agency (IRENA), at a total value of $350 million, alongside two initiatives to support energy projects in the 27 Pacific and Caribbean countries, valued at $100 million.

The Deputy Prime Minister, Minister of Presidential Affairs, and Chairman of ADFD, Sheikh Mansour bin Zayed Al Nahyan, said: "Throughout its notable history, ADFD has achieved key milestones and is preparing for the next 50 years with an ambitious strategy to support the UAE’s role in achieving sustainable development locally and globally."

Meanwhile, the Director-General of ADFD, Mohammed Seif Al Suwaidi, remarked: "ADFD has significantly contributed to the UAE’s effort and vision to become a global leader as a provider of economic and sustainable development assistance at local and international levels."