Report: Abu Dhabi Fund Financed Projects in 45 Countries in 1999
The Abu Dhabi Fund for Development had disbursed $1.64 billion for projects in 45 countries by the end of 1999, reported the Gulf News on Tuesday, citing a report.
Funds committed total $2.19 billion, said the paper, adding that during that period, the fund disbursed $50.4 million, while project loans totaled $217.8 million.
Authorized capital was $544 million, paid-in capital $581 million, reserves $319 million, the report said, published by the fund.
The fund was established by the Abu Dhabi government in 1971 to offer economic developmental aid to Arab, African, Asian and other countries in the form of loans or capital participation in projects.
Meanwhile, the Kuwait Fund for Arab Economic Development had cumulative commitments totaling $11.09 billion and disbursements at $8.16 billion in 1999, said the paper.
The Saudi Fund for Development's cumulative commitments stood at $7.05 billion, and disbursements at $4.99 billion – Albawaba.com
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