The Abu Dhabi Fund for Development (ADFD) has financed 442 development projects in 76 countries around the world since its inception. The fund, which celebrated its 44th anniversary yesterday, has played an important role in the sustainable economic and social development of many emerging economies across the world.

Starting with a capital of Dh500 million in 1971, the total value of grants and loans provided by the fund in the first six months of the current year reached Dh65 billion, including Dh41.7 billion provided as government grants and Dh23.4 billion in concessionary loans.

Among the major projects managed by the ADFD is the Ma'rib Dam in Yemen, which was financed by a Dh372 billion government grant between 1984 and 1987. Other projects include Egypt's Shaikh Zayed Canal that was built using a Dh348 million grant; and the Tangier Port in Morocco that was financed through the ADFD's contributory loan of Dh734.6 million and government grant of Dh367.3 million;

Mohammed Saif Al Suwaidi, Director-General, ADFD, said: "ADFD is committed to leading by example in the provision of development assistance worldwide. We will continue to work with our partners in the developing world to improve the standards of living for their people and achieve sustainable growth in sectors that require infrastructure development such as health care and education.

"The idea of establishing a development agency came to the fore ... when the founding father of the UAE, the late Shaikh Zayed bin Sultan Al Nahyan, decided to institutionalise the country's contribution to international development and progress."

ADFD's operational activities include supporting projects in sectors key to economic and social development in emerging economies. Over the years, the fund has consistently responded to the changing directions of global development aid by increasing its capital from Dh8 billion to Dh16 billion.

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