UAE President issues law amending some provisions of establishment of ADFD

Abu Dhabi, Aug 13, 2013 (WAM) - His Highness Sheikh Khalifa bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi, has issued law, amending some provisions of Law No. (10) of 1999, concerning the establishment of the Abu Dhabi Fund for Development (ADFD). Under this law, the activities of the Abu Dhabi Fund for Development (ADFD) has been expanded to include the United Arab Emirates, in addition to its fundamental role in achieving the state policy to promote the economic development in the developing countries. The capital of the ADFD has been also raised to Dh16 billion instead of Dh8 billion in which the Government of Abu Dhabi will be fully subscribed. – Emirates News Agency, WAM