United Arab Emirates
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Cumulative
- Project-Specific Cofinancing $45 million
The United Arab Emirates (UAE) channels its development assistance through the Abu Dhabi Fund for Development, established in 1971 by the Abu Dhabi government. The fund provides concessionary loans for economic and social development projects. It prioritizes education, energy, finance and trade, health and food security, regional initiatives, transport, and urban services.
Highlights of ADB–UAE Engagement in 2023:
Nonsovereign Cofinancing. The Trade and Supply Chain Finance Program (TSCFP) supported over 190 transactions valued at $2.8 billion with banks domiciled in the UAE from inception to December 2023. During the same period, the TSCFP supported over 1,730 UAE exports and/or imports valued at $4.6 billion. In 2023 alone, the TSCFP supported 48 transactions valued at $110.8 million with banks domiciled in the UAE and supported 95 UAE exports and/or imports valued at $250 million. Exports and/or imports were mainly to or from Bangladesh, India, and Viet Nam. Underlying goods involved mostly textiles and apparel, raw and non-energy commodities, as well as food and agriculture-related goods.
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The Tina River Hydropower Project is helping develop renewable energy to supply electricity to Solomon Islands’ capital, Honiara. The Government of Australia, the Green Climate Fund, the Abu Dhabi Development Fund, the Export–Import Bank of Korea, and the World Bank Group are supporting this project, which also received a $12 million allocation from ADB’s Asian Development Fund.
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