Annual Report
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ANNUAL REPORT 2019 GLOBAL PARTNERS FOR SUSTAINABLE DEVELOPMENT 2 19 Annual Report Global Partners for Sustainable Development His Highness Sheikh Khalifa bin Zayed Al Nahyan His Highness Sheikh Mohamed bin Zayed Al Nahyan President of the United Arab Emirates Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces 4 5 CONTENTS 1 2 5 6 INTRODUCTION OVERVIEW ADFD RENEWABLE ACHIEVEMENTS AND EVENTS Board of Directors 10 Vision, Mission & Values 16 ENERGY INITIATIVES Local and global meetings and events 84 IRENA/ADFD Project Facility 74 Organisational Structure 11 Establishment 18 Project launches 86 UAE-Caribbean Renewable Chairman’s Message 12 OBJECTIVES 18 Energy Fund (UAE-CREF) 80 Initiatives to enhance aid eectiveness 87 Director General’s Message 13 Operational Activities 20 Honours and accolades 87 Institutional development and innovation 88 Internal events 89 3 4 7 DEVELOPMENT FUNDING SUPPORTING UAE ECONOMY STATISTICS RESULTS 2019 Supporting National Companies 68 Geographical Distribution of Concessionary Loans 24 Development Projects 92 Abu Dhabi Exports Oce -ADEX 69 Development Grants 28 Sectoral Distribution of ADFD Investments 92 Investments 58 Commitments and Withdrawals of ADFD Loans 93 Map of Beneficiary Countries 64 Commitments and Withdrawals of Government Grants 93 6 Total ADFD and Government Commitments 93 7 INTRODUCTION Board of Directors 10 Organisational Structure 11 Chairman’s Message 12 1Director General’s Message 13 BOARD OF DIRECTORS ORGANISATIONAL STRUCTURE Audit Committee Board of Directors Executive Committee Internal Audit ADFD Director General Strategy & Performance H.H. Sheikh Mansour bin Zayed Al Nahyan H.H. Sheikh Abdullah bin Zayed Al Nahyan Chairman Deputy Chairman Advisors Deputy Director General Media & Communications Organisation Excellence Operations Investment Finance Support Services H.E. Reem bint Ibrahim Al Hashimy H.E. Ahmed Ali Al Sayegh H.E. Faris Mohamed Al Mazrouei H.E. Omar Saif Ghobash Member Member Member Member Technical Advisors Equity Accounting & HR Budgeting Project Management Treasury Disbursement IT Administration General Services H.E. Mohammed Najm Al Qubaisi Alyazia Ali Al Kuwaiti Mohammed Hamdan Al Falahi Member Member Member Board/ Director Deputy Director Audit Department Section Team/Individual Committees General General 10 11 CHAIRMAN’S DG’S MESSAGE MESSAGE The UAE has developed strong Abu Dhabi Fund for Development relations and partnerships with launched many unique initiatives countries around theworld in 2019, as it continued to over nearly half a century. This support sustainable economic- achievement has enabled the development initiatives at home Emirates to continue unhindered and abroad. with its mission to help various nations develop their economies. Abu Dhabi Fund for Development (ADFD) has, since The position that ADFD has carved out for itself These accomplishments have added to the success The Fund also witnessed an expansion last year in inception, significantly contributed to this eort, over nearly 50 years through its hard work and story that the Fund began to write at the time of its role of supporting the national economy, as it having invested more than Dh100 billion to develop dedication towards driving sustainable socioeconomic its establishment in 1971. It has since moved ahead launched Abu Dhabi Exports Oce (ADEX) to help the economies of 97 countries. development locally and globally is not just a with confidence, determination and devotion until it UAE exporters through credit facilities, as well as to matter of pride for us, but the Fund’s phenomenal finally evolved as one of the UAE’s leading financial enhance the competitiveness of national exports by Established under the guidance of achievements also inspire us to multiply our eorts so institutions that enjoys a global reputation, thanks to providing funding and guarantees to overseas buyers Sheikh Zayed bin Sultan Al Nahyan, ADFD has that we maintain our distinction in this sphere. the vision and support of our leadership. looking to import goods and services from the UAE. evolved as one of the UAE’s leading financial The initiative is in line with the UAE Vision 2021, the institutions that has launched numerous initiatives We are confident that our national institutions, The Fund’s ever-amplifying eorts have been Economic Vision 2030 of the Emirate of Abu Dhabi at local and global levels to address developmental especially Abu Dhabi Fund for Development, will reflected in its achievements last year, thanks to the and the UAE Centennial 2071. challenges. It has been possible to keep up the maintain the lead in attaining ambitious goals by direction provided by His Highness Sheikh Mansour momentum because of the visions of His Highness leveraging the potential of the national workforce. bin Zayed Al Nahyan, Deputy Prime Minister, Minister Our economy is able to compete with the best in Sheikh Khalifa bin Zayed Al Nahyan, President of the The fund has created an example for others to follow. of Presidential Aairs, Chairman of the Fund’s Board the world. One way it can enhance its competitive UAE and His Highness Sheikh Mohammed bin Zayed of Directors; as well as those of other members of the advantage is by enabling and encouraging our Al Nahyan, Crown Prince of Abu Dhabi; that reflect board. It is their guidance and commitment that help national companies to expand their export horizons, the legacy of Sheikh Zayed as they accord utmost us to follow global best practices in implementing our as well as by creating investment opportunities for priority to achieving inclusive progress and prosperity developmental agenda. them. This is where Abu Dhabi Exports Oce (ADEX) for all – within the country and beyond. can play a crucial role as it collaborates with various The Fund last year financed 21 projects in 15 countries. The economic entities in the country. The Fund last year launched Abu Dhabi Exports Oce total value of these initiatives stood at AED 5.164 billion, (ADEX) with an aim to enhance the competitive while investments reached AED 3 billion. These figures We are confident that such concerted and advantage of national exporters, thereby providing an took the total funding and investments to AED101 consistent eort will enable us to achieve our impetus to the UAE’s economic-diversification eorts. billion, all of which is used towards the purpose of targets of sustainable economic development stimulating economic and social progress in various locally and globally. countries across the world. SHEIKH MANSOUR BIN ZAYED AL NAHYAN MOHAMMED SAIF AL SUWAIDI Chairman Director General 12 13 OVERVIEW Vision, Mission & Values 16 Establishment 18 Objectives 18 2Operational Activities 20 Cooperative • Collaborate without boundaries • Show care and respect for others’ views VISION • Encourage team achievements To be a model institution in providing development assistance that alleviates VALUES global poverty. Creative • Always improving focus on solutions not problems • Embrace change with positive attitude MISSION Committed • Responsible for high performance To help developing countries achieve sustainable economic growth and • Adhere to high ethical standards reduce poverty by providing financial resources, forging partnerships in • Determined to achieve our goals the public and private sectors, and adopting international best practices to ensure aid effectiveness. Competent • Encourage personal development • Confidence in our abilities • Improve corporate skills and knowledge 16 17 ESTABLISHMENT Established in 1971 as a leading financial entity, Moreover, the Fund’s direct investments in companies Abu Dhabi Fund for Development (ADFD) prioritizes contribute to stimulating economic growth, providing economic sustainable development and is mandated new job opportunities and improving the quality of to implement the UAE’s sustainable-development life for many. ADFD invests in various companies policies in the UAE and developing nations. Through and private portfolios in a number of countries in the provision of concessionary loans, entering partnership with the public and private sectors, into direct and indirect investments in addition to holding shares ranging from full or partial ownership. financing UAE national exports and national private It also enjoys indirect investment in capital markets sector investments locally and globally, the Fund through deposits and bonds. has played a pivotal role in stimulating sustainable socioeconomic growth. Lastly, ADFD plays a major role in contributing to supporting the UAE national economy and ADFD also finances strategic development projects enhancing its competitiveness through various by providing loans to governments of developing investment initiatives and tools. In line with the UAE countries, helping them achieve their development Vision 2021 and the Abu Dhabi Economic Vision goals and priorities. These projects focus on the 2030, these investments aim to build a diversified most crucial sectors in accelerating the development and sustainable knowledge economy and ensure a process which encompass infrastructure ventures comprehensive approach to economic and social in sectors including transport, housing, agriculture, development in the country. energy, water, and industry along with social services, education and healthcare. OBJECTIVES ADFD’s objectives include: • Supporting the UAE’s national economy. • Providing technical expertise and support in • Contributing to achieving sustainable various areas of economic development. development