Abu Dhabi Fund for Development and Colombia Explore More Cooperation Opportunities
His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), held a virtual meeting with Her Excellency Marta Lucía Ramírez, Vice President of Colombia. The discussions focused on relations between the UAE and Colombia and ways to enhance them.
Attended by HE Salem Rashid Al Owais, UAE’s Ambassador to Colombia; and HE Jaime Amin, the Ambassador of Colombia to the UAE, the meeting also highlighted the prospects of expansion of collaboration in terms of investment and development that serves mutual interests.
Underlining ADFD’s role in promoting sustainable development in Colombia through various projects, HE Al Suwaidi said: “This meeting is an ideal opportunity to expand the avenues of cooperation between the UAE and Columbia. In working closely with Columbia, we aim to accelerate sustainable growth, develop innovative solutions and give a strong momentum for development cooperation to better serve our mutual interests.”
Her Excellency Ramírez expressed gratitude for the UAE and ADFD for extending support to her country amid a battle against the COVID-19 pandemic. She commended ADFD’s leading role in promoting sustainable economic development in many parts of the world and expressed keenness of the government of Colombia to strengthen ties with ADFD to realize some critical projects that support the empowerment of women and youth in the country.
ADFD and the Colombian Presidential Agency of International Cooperation (APC-Colombia) had signed an MoU in 2017, whereby the former pledged an AED165 million (US$45 million) grant to fund many of Colombia’s development projects. They include eight early childhood centers set up on a budget of AED39 million, education and health centres, as well as small and medium projects across the country that will create jobs for local communities and improve their living standards.
Abu Dhabi Fund for Development
Established in 15th of July 1971, Abu Dhabi Fund for Development (ADFD) is an autonomous national entity affiliated with Abu Dhabi government.
ADFD aims to help developing countries to achieve sustainable socio-economic growth; through financial assistance in the forms of concessionary loans, managing government grants and equities. ADFD also peruses investments in order to encourage the private sector in the recipient countries to play an essential part in accelerating the economic development process, and at the same time playing a pivotal role in strengthening and diversifying the future resources of the Fund.