Abu Dhabi Fund for Development financed 11 projects worth Dh1.4 billion in nine countries last year in support of sustainable development and fighting poverty.
The fund allocated more than Dh646 million in four development projects as concessionary loans to Egypt, Antigua and Barbuda and the Maldives, it said in a statement on Wednesday. ADFD allocated Dh754m in development grants to projects in Colombia, Yemen, Comoros, Eritrea, Somalia, Palestine and Maldives.
“ADFD has long adopted an unequivocal development aid policy that mandates it to work towards eradicating global poverty and achieving sustainable development in developing countries," Mohammed Saif Al Suwaidi, director general of the Abu Dhabi Fund, said.
ADFD's cumulative spend and investment reached Dh83bn, a Dh3bn increase from 2016, and expanded its reach to 88 countries by the end of 2017. The United Arab Emirates has become the largest donor of official development aid relative to national income globally, according to Sheikh Mansour bin Zayed Al Nahyan, deputy prime minister, minister of presidential affairs and chairman of ADFD’s board of directors. The UAE has supported socio-economic development projects in more than 140 countries worldwide.
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Read more:
[ Abu Dhabi development fund finances 105MW Jordanian solar plant ]
[ President Khalifa announces $200 million for Pakistan aid programme ]
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The Fund has enabled 88 developing countries to pursue their economic growth priorities and improve the standards of living since its inception in 1971, he said.
ADFD's interests include funding the renewable energy sector. Last year it allocated $25mn for two projects in renewable energy projects.
In 2017 it commissioned the Korea Development Institute, a think tank, to run a feasibility study investigating the need for a UAE-based export programme in line with the country's goals of diversifying the economy, reducing dependence on oil revenues, and preparing for the post-oil era.
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
Fixtures (6pm UAE unless stated)
Saturday Bournemouth v Leicester City, Chelsea v Manchester City (8.30pm), Huddersfield v Tottenham Hotspur (3.30pm), Manchester United v Crystal Palace, Stoke City v Southampton, West Bromwich Albion v Watford, West Ham United v Swansea City
Sunday Arsenal v Brighton (3pm), Everton v Burnley (5.15pm), Newcastle United v Liverpool (6.30pm)
SPECS
Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now
Company profile
Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Sour Grapes
Author: Zakaria Tamer
Publisher: Syracuse University Press
Pages: 176
MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
Uefa Nations League: How it works
The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.
The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.
Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.
Why all the lefties?
Six of the eight fast bowlers used in the ILT20 match between Desert Vipers and MI Emirates were left-handed. So 75 per cent of those involved.
And that despite the fact 10-12 per cent of the world’s population is said to be left-handed.
It is an extension of a trend which has seen left-arm pacers become highly valued – and over-represented, relative to other formats – in T20 cricket.
It is all to do with the fact most batters are naturally attuned to the angles created by right-arm bowlers, given that is generally what they grow up facing more of.
In their book, Hitting Against the Spin, cricket data analysts Nathan Leamon and Ben Jones suggest the advantage for a left-arm pace bowler in T20 is amplified because of the obligation on the batter to attack.
“The more attacking the batsman, the more reliant they are on anticipation,” they write.
“This effectively increases the time pressure on the batsman, so increases the reliance on anticipation, and therefore increases the left-arm bowler’s advantage.”
The specs
Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)
EXPATS
Director: Lulu Wang
Stars: Nicole Kidman, Sarayu Blue, Ji-young Yoo, Brian Tee, Jack Huston
Rating: 4/5
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
