ID :
25421
Sun, 10/19/2008 - 14:02
Auther :
Shortlink :
https://www.oananews.org//node/25421
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ADFD reiterates its commitment to combat poverty around the world
Abu Dhabi, Oct. 19, 2008 (WAM) - Abu Dhabi Fund for Development (ADFD) has reiterated its commitment to Poverty alleviation and its participation in the efforts of UAE to improve living standards at both the regional and international levels, by tapping into all its financial and human resources to proactively contribute its quota in this international partnership venture to help create a more humane international community in which all its members equally enjoy peace, security and tranquillity.
In a report released to mark its participation in the Poverty Alleviation Day, ADFD noted that poverty alleviation is one of the major global initiatives being promoted by the United Nations to get all members of the international community proactively involved in achieving its noble and humanitarian objectives of achieving stability and social harmony worldwide.
'In view of this, the UN sponsored World Poverty Day, which came at a time the international stock markets are going through a crisis that threatens global economic doom for all countries, including countries which dole out financial assistance and aid to poor countries, a situation which threatens a further deterioration in global poverty level and calls for concerted global efforts to provide more assistance to make for the shortfall that is likely worsen the situation of the poor nations with poor people being the number one victim', the report said.
The effect of this situation on poor countries stems from the impact of the current financial crisis on the global economy which is heading to a recession. Consequently, this will lead to a rise in unemployment and other negative socio-economic effects on many countries of the world, particularly, poor countries. This also means more than half of the world's population will continue to wallow in poverty, as they will be deprived of the minimum means of decent life due to abject poverty, diseases, unemployment, illiteracy, organised crime and conflict, warned the report.
The situation calls for concerted efforts by the international community to implement the recommendations of all international social development conferences and related commitments.
It also calls for better cooperation at both the regional and international levels to provide the needed financial support and come up with ambitious programmes to sustainably help the poor nations absorb the effect the current crisis may inflict on them and to provide more support for them to be able to execute their ambitious development programmes, stressed the report.
Shedding light on the role of ADFD in extending support to developing countries, the report said: 'Since its establishment more than 37 years ago, in line with the vision of the UAE's wise leadership, ADFD continue to provide support to developing countries of the world by financing many development projects in various economic and service sectors with the aim of assisting those countries to achieve their comprehensive development targets in various economic sectors.
'The beneficiaries of our assistance include countries in Africa, Asia and Latin America, which makes the work of the ADFD an international one and not limited to one particular geographical location, despite the fact that our work is slightly focused on Arab countries in view of the special ties we have with our sister nations.
'In line with the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan and HH General Sheikh Mohammed bin Zayed Al Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces and with the close follow-up of HH Sheikh Mansour bin Zayed Al Nahyan, Minister for Presidential Affairs and ADFD Board Chairman, the ADFD action programmes consist of practical steps in support of the economies of poor countries, poverty alleviation and improving the living standards of the peoples of those countries, most of whom suffer from abject poverty, diseases and hunger in a world that has been swept by the strong wind of globalisation'.
Looking back to the history of the establishment of ADFD and its objectives, the report said: 'The late Sheikh Zayed bin Sultan Al Nahyan personally attached great importance to poor nations and held dear in his heart the plight of the poor, which stemmed from his deep humanitarian sense. By considering the difficult economic situation in the world, Sheikh Zayed gave the directives for the setting up of the ADFD in 1971 to achieve UAE's policy of providing economic development support for developing nations.
To achieve the above objective, the ADFD continues to assist developing countries in creating economic environment that would ensure sustainable growth. Based on its noble mission of spreading the noble policy of the Abu Dhabi government, the ADFD extends economic and development assistance to developing nations in the form of soft loans and owning of shares in development and economic companies of developing countries.
The basic principles and objectives of the ADFD lie in poverty alleviation, social equality and environmental protection. The ADFD tries to achieve this by boosting capacity, supporting policies and programmes which increase the chances of a nation to achieve development, getting proactively involved in the global economy, investing in social programmes that increase job opportunities in beneficiary countries and boosting regional economic integration, the report said.
The report also shed light on the operations of ADFD.
The Priority of the ADFD is to contribute to the economic development of developing countries through the extension of soft loans to finance projects that serve global initiatives for alleviating poverty, improving living conditions and quality of life, creating job opportunities, providing health and educational services, establishing and supporting projects for food security, irrigation, agriculture as well as infrastructure projects for electricity, water and roads.
The ADFD's financing operations focus on key sectors which have far-reaching impact on comprehensive and sustainable development.
In addition, the ADFD also manages loans and grants given by the Government of Abu Dhabi, and plays a primary role in designing, implementing, overseeing and evaluating these projects.
These facilities provided by the Fund are intended to lay the foundation for a sustainable development that ensures decent life for poor countries and their future generations.
The ADFD's Strategic Plan calls for branding and marketing Abu Dhabi's image through the development projects managed and executed by the ADFD; conducting on-going training courses for ADFD's employees through some initiatives aiming at capacity building of UAE manpower; deploying and improving lending contractual agreements and finally ensuring that the conditions of environment protection are met as part of executing any project.
Analysing the achievements of ADFD, the report said that since its establishment in 1971, the ADFD has provided Dh13 billion in loans to 53 developing countries across the world by the end of 2007.
Loans and grants given by Abu Dhabi Government and managed by the ADFD stood at Dh10 billion, bringing to Dh23billion the total amount of loans, grants and subsidies extended by both the ADFD and the Government of Abu Dhabi.
Share of Arab countries from these financial facilities accounted for Dh19.256billion. African and Asian countries received Dh1.7 and Dh1.96 billion respectively and Dh 492 million was given to other countries.
To deliver its objectives, the ADFD is working, coordinating and cooperating closely with other sister regional and international agencies in co-financing and executing development projects. Such partnerships have produced immense positive results in swift implementation and supervision of projects seeking to achieve the aspired objectives the foremost of them is to alleviate poverty in many developing countries.
Inspired by the unstinted support from the leadership of the UAE, the ADFD seized the opportunity on the occasion of the World Poverty Day to reaffirm that it will continue to deliver its message - for which it was founded - and cooperate with all Arab, regional and international organisations and agencies to contribute to financing development projects in developing countries and eliminating poverty, which stands out today as one of the most pressing demands on the humanitarian scene.
In a report released to mark its participation in the Poverty Alleviation Day, ADFD noted that poverty alleviation is one of the major global initiatives being promoted by the United Nations to get all members of the international community proactively involved in achieving its noble and humanitarian objectives of achieving stability and social harmony worldwide.
'In view of this, the UN sponsored World Poverty Day, which came at a time the international stock markets are going through a crisis that threatens global economic doom for all countries, including countries which dole out financial assistance and aid to poor countries, a situation which threatens a further deterioration in global poverty level and calls for concerted global efforts to provide more assistance to make for the shortfall that is likely worsen the situation of the poor nations with poor people being the number one victim', the report said.
The effect of this situation on poor countries stems from the impact of the current financial crisis on the global economy which is heading to a recession. Consequently, this will lead to a rise in unemployment and other negative socio-economic effects on many countries of the world, particularly, poor countries. This also means more than half of the world's population will continue to wallow in poverty, as they will be deprived of the minimum means of decent life due to abject poverty, diseases, unemployment, illiteracy, organised crime and conflict, warned the report.
The situation calls for concerted efforts by the international community to implement the recommendations of all international social development conferences and related commitments.
It also calls for better cooperation at both the regional and international levels to provide the needed financial support and come up with ambitious programmes to sustainably help the poor nations absorb the effect the current crisis may inflict on them and to provide more support for them to be able to execute their ambitious development programmes, stressed the report.
Shedding light on the role of ADFD in extending support to developing countries, the report said: 'Since its establishment more than 37 years ago, in line with the vision of the UAE's wise leadership, ADFD continue to provide support to developing countries of the world by financing many development projects in various economic and service sectors with the aim of assisting those countries to achieve their comprehensive development targets in various economic sectors.
'The beneficiaries of our assistance include countries in Africa, Asia and Latin America, which makes the work of the ADFD an international one and not limited to one particular geographical location, despite the fact that our work is slightly focused on Arab countries in view of the special ties we have with our sister nations.
'In line with the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan and HH General Sheikh Mohammed bin Zayed Al Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces and with the close follow-up of HH Sheikh Mansour bin Zayed Al Nahyan, Minister for Presidential Affairs and ADFD Board Chairman, the ADFD action programmes consist of practical steps in support of the economies of poor countries, poverty alleviation and improving the living standards of the peoples of those countries, most of whom suffer from abject poverty, diseases and hunger in a world that has been swept by the strong wind of globalisation'.
Looking back to the history of the establishment of ADFD and its objectives, the report said: 'The late Sheikh Zayed bin Sultan Al Nahyan personally attached great importance to poor nations and held dear in his heart the plight of the poor, which stemmed from his deep humanitarian sense. By considering the difficult economic situation in the world, Sheikh Zayed gave the directives for the setting up of the ADFD in 1971 to achieve UAE's policy of providing economic development support for developing nations.
To achieve the above objective, the ADFD continues to assist developing countries in creating economic environment that would ensure sustainable growth. Based on its noble mission of spreading the noble policy of the Abu Dhabi government, the ADFD extends economic and development assistance to developing nations in the form of soft loans and owning of shares in development and economic companies of developing countries.
The basic principles and objectives of the ADFD lie in poverty alleviation, social equality and environmental protection. The ADFD tries to achieve this by boosting capacity, supporting policies and programmes which increase the chances of a nation to achieve development, getting proactively involved in the global economy, investing in social programmes that increase job opportunities in beneficiary countries and boosting regional economic integration, the report said.
The report also shed light on the operations of ADFD.
The Priority of the ADFD is to contribute to the economic development of developing countries through the extension of soft loans to finance projects that serve global initiatives for alleviating poverty, improving living conditions and quality of life, creating job opportunities, providing health and educational services, establishing and supporting projects for food security, irrigation, agriculture as well as infrastructure projects for electricity, water and roads.
The ADFD's financing operations focus on key sectors which have far-reaching impact on comprehensive and sustainable development.
In addition, the ADFD also manages loans and grants given by the Government of Abu Dhabi, and plays a primary role in designing, implementing, overseeing and evaluating these projects.
These facilities provided by the Fund are intended to lay the foundation for a sustainable development that ensures decent life for poor countries and their future generations.
The ADFD's Strategic Plan calls for branding and marketing Abu Dhabi's image through the development projects managed and executed by the ADFD; conducting on-going training courses for ADFD's employees through some initiatives aiming at capacity building of UAE manpower; deploying and improving lending contractual agreements and finally ensuring that the conditions of environment protection are met as part of executing any project.
Analysing the achievements of ADFD, the report said that since its establishment in 1971, the ADFD has provided Dh13 billion in loans to 53 developing countries across the world by the end of 2007.
Loans and grants given by Abu Dhabi Government and managed by the ADFD stood at Dh10 billion, bringing to Dh23billion the total amount of loans, grants and subsidies extended by both the ADFD and the Government of Abu Dhabi.
Share of Arab countries from these financial facilities accounted for Dh19.256billion. African and Asian countries received Dh1.7 and Dh1.96 billion respectively and Dh 492 million was given to other countries.
To deliver its objectives, the ADFD is working, coordinating and cooperating closely with other sister regional and international agencies in co-financing and executing development projects. Such partnerships have produced immense positive results in swift implementation and supervision of projects seeking to achieve the aspired objectives the foremost of them is to alleviate poverty in many developing countries.
Inspired by the unstinted support from the leadership of the UAE, the ADFD seized the opportunity on the occasion of the World Poverty Day to reaffirm that it will continue to deliver its message - for which it was founded - and cooperate with all Arab, regional and international organisations and agencies to contribute to financing development projects in developing countries and eliminating poverty, which stands out today as one of the most pressing demands on the humanitarian scene.
