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Article: Investing in development: the Abu Dhabi Fund for Development is expected to step up its activities following a major restructuring.(CHARITY FUNDS)(Organization overview)(Statistical data)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- August 31, 2007
- Author:
CopyrightCOPYRIGHT 2007 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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For the beneficiaries of the Arab world's oil bonanza, giving a thought to the less fortunate is seen as a duty, and one that has been performed since before the UAE was united as a federation.
The Abu Dhabi Fund for Development (ADFD) was founded on 15July 1971bythe late Shaikh Zayed bin Sultan al-Nahyan, founder of the UAE. When he ordered its creation, it was said that he wanted to raise the UAE's profile in the Arab world, improve relations with the international community;, and share oil wealth with less fortunate developing countries.
Its offices next to the Central Bank of the UAE on Baynouna street in Abu Dhabi belie the scale of the autonomous ...