Akhbar Al Sa'a: Active Emirati role in supporting efforts of global development

The Akhbar Al Sa'a (News of the Hour) Bulletin, has affirmed the importance of the role of the UAE in supporting global development, as it spares no effort in helping international organisations and institutions related to development work on a global level. The bulletin, issued by the Emirates Centre for Strategic Studies and Research, ECSSR, under the title "Active Emirati Role in Supporting Efforts of Global Development", pointed out that the UAE is now one of nine countries contributing the most funding for development projects in less developed economies, where its direct investment outflows, estimated to be about US$2.5 billion dollars a year, contributes more than a third of the total direct investment outflows from the Middle East and North Africa. Noting that additionally the UAE is offering grants, non-refundable aid and soft loans to poor countries valued at up to US$5.2 billion annually, thus putting the UAE in the first rank among the world's donor countries according to the latest rankings released by the Organisation for Economic Co-operation and Development (OECD). The bulletin pointed out that the UAE also has a vital role as an engine for development at the regional level in the Middle East and North Africa, due to its success in empowering the private sector through providing it with the opportunity to participate and invest in many activities and sectors that were previously the preserve of government investment. Thanks to these efforts, the sector now contributes approximately 65% of the funding effort for investment projects in the national economy of the UAE in general. The bulletin concluded that the United Nations Industrial Development Organisation (UNIDO) has praised the role of the UAE in the field of supporting global development in general, describing it as a gateway for investments in industrial, commercial, agricultural, services and tourism, which shows the importance of the UAE's role as a model to support global development in a way which is more inclusive. – Emirates News Agency, WAM