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. The fund cofinanced two ongoing projects: the South Asia Subregional Economic Cooperation Road Connectivity and the Tina River Hydropower in the Solomon Islands.
The Trade and Supply Chain Finance Program (TSCFP) supported over 150 transactions valued at $2.7 billion with banks domiciled in the UAE from inception to December 2022. During the same period, the TSCFP supported over 1,070 UAE exports and/or imports valued at $4.3 billion. In 2022 alone, the TSCFP supported 32 transactions valued at $359 million with banks domiciled in UAE and supported 168 UAE exports and/or imports valued at $774.3 million. Exports and/or imports were mainly to/from Bangladesh, Viet Nam, and Pakistan. Underlying goods involved mostly raw and non-energy commodities, food and agriculture-related goods, as well as oil, gas, and energy-related commodities.
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ADB, Partners Support Delivery of Clean and Reliable Electricity in Solomon Islands
ADB, the Government of Australia, the Green Climate Fund, Abu Dhabi Development Fund, Export–Import Bank of Korea, and the World Bank Group are helping Solomon Islands reduce its dependence on imported fossil fuels for electricity through the Tina River Hydropower Project. The project is helping develop renewable energy to supply electricity to the capital, Honiara.
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How the ADF Base Allocation Increase Is Already Transforming the Pacific
The Tina River Hydropower Project is helping develop renewable energy to supply electricity to Solomon Island’s capital, Honiara. The Government of Australia, the Green Climate Fund, Abu Dhabi Development Fund, 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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