Director General of Abu Dhabi Fund for Development, ADFD, Mr. Mohammed Saif Al Suwaidi, has said that the Fund is determined to grow its development activities in developing countries, particularly across the African continent that holds significant potential for growth.

During the meeting, the two sides discussed strengthening collaborations and explored joint efforts to further finance development projects and investment opportunities in Ethiopia.

Welcoming a visiting high-level delegation from Ethiopia, led by Muferiat Kamil, Ethiopia’s Minister of Peace, at the Fund’s headquarters in Abu Dhabi, he added, that ADFD's development set out in Africa have achieved positive results and contributed to ongoing efforts to understand the United Nations’ Sustainable Development Goals, SDGs.

Mohammed Saif Al Suwaidi said, "Over the years, ADFD has played an principal role in advancing sustainable economic development in Africa as a whole, including Ethiopia. The visit of the Ethiopian Minister of Peace is a significant opportunity to discuss ways to strengthen cooperation between the Fund and the Ethiopian government in all aspects of development funding and investment."

ADFD and the Government of Ethiopia enjoy strong ties dating back to 2012. Since then, the Fund has financed two development projects in Ethiopia worth AED119.4 million.

Muferiat Kamil further expressed her appreciation to the UAE and ADFD for their sustained development assistance to Ethiopia. She also praised the Fund's efforts in supporting economic and social development in various developing countries around the world.

Since its establishment in 1971, ADFD has funded development projects in 94 countries, which includes 40 African nations, to the tune of AED92 billion through concessionary loans, government grants, and investments.

The Fund’s total expenditure in Africa amounts to an approximate AED23 billion. ADFD has also invested in eight companies and two private equity funds to bolster a variety of sectors on the African continent.

Khalifa Al Qubaisi, Deputy Director-General of ADFD, and several high-ranking officials from the two sides were present at the meeting.