Ahmed al Jarman has told the United Nations that the UAE is one of the most generous nations in the world for contributing to the development of under developed countries. The Abu Dhabi Fund for Development was set up in the 1970’s to help raise finance to set up projects that would improve the lives of people in poorer nations.
The UAE has already contributed about $1.8billion US Dollars to help improve the production capacity of many countries and allow them to have a better standard of living the UAE’s ambassador to the UN recently stated. He also said that the Abu Dhabi fund for development has given more than $6.3billion to help under developed countries and that this funding has been used for 260 projects in 52 different developing countries.
In 2010 the UAE has given $50 million to help projects in Tuvalu, Fiji and some other Pacific Islands. Mr Al Jarman also spoke of the great work that is being done by the UAE Red Crescent in Disaster-struck countries and those ravaged by war.
The figure of 0.7% of the UAE’s Gross Domestic Product was accepted for the coming year. Very few countries have managed to reach their targets for last year in terms of what they have actually donated. The only countries who managed to reach their intended donation targets are Sweden, Luxembourg, Denmark, the Netherlands and Belgium.Paul Holdsworth, Staff Writer, Gulf Jobs Market News