Abu Dhabi Fund for Development Engages in Global Development Dialogue at World Bank/IMF Meeting

Abu Dhabi-UAE: October 12, 2014 - An official delegation from Abu Dhabi Fund for Development (ADFD) participated in this week’s Annual Meeting of the World Bank Group and the International Monetary Fund (IMF) in the US capital Washington, DC. The delegation, led by Mohamed Saif Al Suwaidi, Director General of ADFD, used the opportunity engage with partner development organisations and financiers on the side lines of the event, which concludes today (October 12).  

This year’s meeting considered a report by the International Monetary and Financial Committee on the outlook for the global economy. 

The delegation attended a meeting between Arab Central Bank Governors with Jim Yong Kim, President, World Bank Group (WBG) today, at the WBG headquarters. During the meeting, Arab governors discussed with Jim Yong Kim a wide range of issues relating to the activities of WBG in the Arab region, especially the proposed policies, action plans and development outlook in the Arab world.

The Annual Meetings of the World Bank/IMF serve as a forum for Central Bankers, finance and development ministers, senior executives in the private sector and other civil society leaders to discuss issues at the top of the global agenda, including the world economy, development, poverty alleviation and aid programmes. 

“The supporting role played by development funding in driving economic and social mobility in developing countries, grows ever more important,” said ADFD Director General Mohamed Saif Al Suwaidi. “ADFD has a long and proud history of active collaboration with governments around the world to accelerate economic growth through the establishment of key infrastructure. The World Bank/IMF meetings again offered us an opportunity to broaden our impact by forging new partnerships and contributing to a global dialogue.”

ADFD is a national organisation responsible for assisting developing countries through the provision of concessionary loans and administration of direct grants provided by the UAE Government. The Fund aims to promote sustainable socio-economic development and private sector growth in target countries. Since its inception, ADFD has overseen the provision of AED 61 billion for 419 development projects in 71 countries around the world.