ADFD earmarks AED44 million to elevate socio-economic conditions in Palestine

ABU DHABI, 19th February, 2019 (WAM) — Abu Dhabi Fund for Development, ADFD, the leading national entity for international development aid, has allocated a grant of AED44 million (US$12 million) to Jerusalem Council for Development and Economic Growth in support of civil and community programmes and activities in East Jerusalem.

Mohammed Saif Al Suwaidi, Director General of ADFD, and Sari Nusseibeh, Chairman of the Jerusalem Council for Development and Economic Growth, signed a Memorandum of Understanding, MoU, outlining the terms of the funding. Khalifa Al Qubaisi, Deputy Director General of ADFD, and other senior representatives of the two entities attended the signing ceremony held at the Fund’s headquarters in Abu Dhabi.

Speaking on the occasion, Mohammed Saif Al Suwaidi, said: “Under the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, as well as counsel of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and Chairman of ADFD’s Board of Directors, ADFD has allocated this grant to support our brothers and sisters in Palestine, drive socio-economic growth as well as elevate living conditions.”

He added: “Together with the Jerusalem Council for Development and Economic Growth, Abu Dhabi Fund for Development will work towards studying a number of programmes and development activities that aim to improve the living conditions of the residents of Jerusalem. We look forward to furthering constructive cooperation, particularly in financing development projects and programmes that are in line with the needs of the Palestinian people.”

For his part, Sari Nusseibeh, commended the brotherly ties between the UAE and Palestine, noting the UAE leadership’s strong commitment to bolstering cooperation. He also acknowledged ADFD’s prominent role in administering concessionary loans and managing development projects on behalf of the Abu Dhabi government in the Arab region and across the globe.

ADFD’s engagement in the development of Palestine dates back to 1999. Since then, the Fund has extended AED952 million in government grants towards the development of 17 projects. Spanning key sectors including housing, health, education, and energy, the projects have supported elevating living conditions and the local economy.



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