Annual Report

Transcription

1 Annual Report For a better future

2 H.H. Sheikh Khalifa bin Zayed Al Nahyan President of the U.A.E. Supreme Commander of the U.A.E. Armed Forces

3 H.H. General Sheikh Mohammed bin Zayed Al Nahyan Abu Dhabi Crown Prince & Deputy Supreme Commander of the U.A.E. Armed Forces

4 Abu Dhabi Fund For Development In Brief Abu Dhabi Fund For Development In Brrief is an autonomous institution owned by the government of Abu Dhabi. It was established in July 5 th, 97 to help developing countries achieve development through assistance in the form of concessionary loans, developments grants and equity participation. Its head office is located in the city of Abu Dhabi. Objectives Help developing countries to achieve sustainable economic development and alleviate poverty. Support regional and international development initiatives. Means Offer financial resources in the form of concessionary loans and grants for the developing countries to support the development of their economy. Establish investing companies and contribute in existing companies in order to achieve the economic development in the developing countries. Provide expertise and technical support in the different fields of the economic development. Perform any other activities or services necessary to achieve the objectives of the Fund. The Activities of the Fund The work of the Fund emphasizes on the practical steps to alleviate poverty in developing countries. This is achieved by providing assistance in the form of concessionary loans which are aimed at funding infrastructure projects such as electricity, water, transportation, health, agriculture and education. In order to achieve sustainable development in these countries, projects are subjected to technical and economic evaluation prior to approval for funding. In addition, the Fund administers loans and grants extended by the government of Abu Dhabi. Beneficiary in its operation targets development projects in all developing countries. The total number of countries that have benefited from the Fund s operations, since the establishment to date, amounts to 5 countries world wide. Building - Abu Dhabi 4 Annual Report

5 Members of Board of Directors Members of Board of Directors H.E. Ahmed Juma AL Zaabi (Member) H.E. Staff Major General Saeed Mohamed Khalaf Al Rumeithi (Member) H.E. Khalifa Mohamed K. Al Kindi (Member) H.H. Shaikh Mansour Bin Zayed Al Nahyan (Chairman) H.H. Shaikh Abdullah Bin Zayed Al Nahyan (Deputy Chairman) H.E. Eissa Mohamed Ghanem Al Suwaidi (Member) H.E. Jumaa Mubarak Al Junaibi (Member) H.E. Fawzya Hamad Al Mubarak (Member) H.E. Mohamed Sultan A. Al Hameli (Member) 6 Annual Report

6 Chairman s Speech Chairman s Speech I am pleased to present this report about the operations of covering the period By issuing this report, the Fund has completed 37 years in the course of goodness and granting support to various developing countries in order to fight poverty and raise the standard of living for the people of these countries. The issuance of this report occurs at a time when the world is experiencing a severe financial crisis which has led to deep economic recession in the developed countries accompanied by a significant decrease in the prices of primary goods and shortages in the sources of credit. This crisis is expected to have a negative impact on the economies of the developing countries and their abilities to cope and hence placing great responsibilities on donor countries. Realizes these factors and circumstances, Abu Dhabi Fund for Development has continued its activity in supporting economic development efforts in these developing countries through concessionary loans. The Fund s efforts in line with the international directives have been geared towards projects that assist in poverty alleviation, provision of job opportunities, food security programs, provision of irrigation, agriculture and infrastructure facilities and projects that assist health and education services. The current financial crises has consolidated the importance of the assistance model adapted by the fund which is mainly based on provision of concessionary development loans and direct equity investments in companies in developing countries. The Fund seeks to continue expanding its operations which has proved mutual benefit without imposing any burden on recipient countries. In addition, the Fund is exploring possibilities of introducing new financing tools that would enhance the attractiveness of the services offered through increased flexibility and mutual benefit. In the period , the Fund has extended its financial support to 0 developmental projects in six developing countries amounting to almost AED.4 billion. In addition, the Fund is administering two loans and two grants extended by the government of Abu Dhabi amounting to AED.3 billion. On the other hand, the Fund has continued its activity in the developmental investments which are aimed at helping the developing countries to develop their economy. The value of these direct investments has reached, by the end of 008, almost AED 700 million. In summary, the total number of the developmental operations funded since its establishment in 97 has reached 00 with a total value of AED 3 billion; on the other hand the total number of the projects supervised by the Fund on behalf of Abu Dhabi government is 6 with a total value of about AED 9.7 billion. Through these achievements and our deep belief in the importance of our mission we intend to exert all efforts to achieve our goals under the wise leadership of the president, His Highness Sheikh Khalifa Bin Zayed Al- Nahyan. Mansour Bin Zayed Al Nahyan Chairman 8 Annual Report

7 Contents Chapter one: Developmental Projects. A synopsis about the history of the Fund activity. The developmental projects funded during the period ( ) 3. The beneficiary countries of the activities of the Fund 4 5 Chapter Two: Contributions and investments of the Fund 6 Chapter Three: Cooperation with development and financial organizations 34 Charts: - Geographical distribution of the total Developmental Projects - al distribution of the total Developmental Projects 3- Total distribution of ADFD and Abu Dhabi government activity Tables: - Geographic distribution of ADFD s overall development projects - Geographic distribution of AD Government s overall development projects 3- The Fund s financial data profile Location Map: location map 50 0 Annual Report

8 Developmental Projects. A synopsis about the history of the Fund activity. The development projects funded during the period ( ) 3. The beneficiary countries of the activities of the Fund Developmental projects Contributions and investments of the Fund Cooperation with development and financial organizations Charts Tables Annual Report

9 The Developmental Projects The Developmental Projects Funded During The Period ( ). A Synopsis about the history of the Fund activity. The developmental projects funded during the period ( ) Abu Dhabi City Primary School in Cairo - Egypt The year 008 happens to be the 37th anniversary of the establishment of. From establishment to the end of 008, the Fund have provided 6 loans with a total value of AED.7 billion and 6 grants with a total value of AED 73 million. The loan tenure given by the Fund has ranged from 8 to 5 years based on the prevailing social and economic circumstances in the beneficiary countries and the objectives of the projects. It also grants the beneficiary countries reasonable validity periods with concessionary rates. In accordance with its objectives of economic development, the Fund has made long term investments and contributions in companies in the developing countries, through joint-ventures between the Fund and the public and private sectors in these countries. These investments focused basically on the projects which have the ability to provide job opportunities, strengthen foreign exchange, improve the income of the local inhabitants and contribute, in general, to achieve sustainable economic and social growth in the beneficiary countries. These investments reached about AED 700 million by the end of 008 in companies. Based on what has been previously mentioned, it is clear to us that, the total number of the activities of the Fund, since its establishment till 3 st December 008, are 00 developmental activities which have included 6 loans, 6 grants and investee companies. The total value to these activities is about AED billion. In addition to its activity, the also administers the loans and grants funded directly by the government of Abu Dhabi and the Fund plays an essential role in designing, implementing, supervising and evaluating the projects. By 3 st December 008 the total number of such projects is 6 amounting to AED 9.7 billion. Therefore, the total value of the loans, grants and investments which have been funded by the and the government of Abu Dhabi for the past 37 years is about AED 3 billion. This included 6 developmental projects for benifiting 5 developing countries world wide. See tables attached to this report for details. White Nile Sugar Production Factory Sudan Development of the National Cancer Center in Sana a Yemen Financier Industrial and Agricultural Type of Finance Development Loan Project Description The project consists of construction of the following major items:- A comprehensive sugar production factory with all the neces sary facilities, Agricultural equipments, irrigation network and pumping facili ties to cater for about 65,000 acres of agricultural land. Supply and installation of Ethanol production factory in order to utilize the byproduct. Supply and installation of steam turbines and gas boiler that operates on sugar refuse products in order to generate elect ricity to operate the plant and for domestic use. Project Objective The project is aimed at producing about 465,000 tons of quality sugar for local and export purposes thus assisting the economic development of the country. The process of sugar production generates about 3 megawatt of electricity that would be utilized to meet the increasing demand for power in addition to production of about 60 million liters of Ethanol. Financier Goverenment of Abu Dhabi Health Type of Finance Grant Project Description The project consist of supply and installation of modern diagnostic medical equipments for early detection of cancer, advanced treatment equipments, inward and laboratory facilities; in addition to rehabilitation and construction of patient examination and waiting rooms. The project also includes supply and provision of transport facilities to assist the center to reach out to patient in remote areas. Project Objective The project is aimed at assisting in the development of the health sector through the rehabilitation and development of the National Cancer treatment center. The project will help in enhancing potential treatment possibilities through early detection of cases and better treatment facilities. Contribution Amount AED 9,500,000 Contribution Amount AED 83,650,000 4 Annual Report

10 The Developmental Projects The Developmental Projects Funded During The Period ( ) Sheikh Zayed Canal South Al Wadi Egypt Sheikh Zayed Hospital - Egypt Balance of Payment Lebanon Fes - Oujda Motorway Project Morocco Deir Ali Power Plant Syria Social Housing Project Phase II Djibouti Financier Government of Abu Dhabi Financier Financier Financier Several Development Transport Power Housing Type of Finance Development Loan Type of Finance Development Loan Type of Finance Development Loan Type of Finance Development Loan Project Description Project Description Project Description Project Description The loan preceding will be utilized in assisting the government in meeting its outstanding obligations towards external development loans. Project Objective The project is aimed at supporting the balance of payment for the facial year and assisting in reduction of the government debt hence assisting the economic development of the country. Contribution Amount AED,0,900,000 The project consists of construction of 38 km dual highway with 7m width carriageway, external and internal shoulders and 3 m central island. The works include connecting interchanges, bridges, storm water drainage and service culverts in addition to construction of toll stations and services facility buildings including the necessary safety requirements. Project Objective The project is aimed at connecting the eastern part of the country with the major commercial center in the western and central part of the country, hence reducing cost of transportation and boosting trade. Contribution Amount AED 83,650,000 The project work consists of supply and installation of combined cycle gas turbine station and a gas boiler unit of total capacity 750 megawatt to be connected to the grid. The project includes all the electromechanical works and the civil works necessary to expand the existing station. Project Objectives The project is aimed at assisting the economic development of the country by expanding the existing Deir Ali Power Station utilizing the natural gas available in the area in order to meet the increasing demand for electricity. Contribution Amount AED 367,300,000 Phase II of the social housing project consists of construction of about,000 housing units with all the necessary services and infra structural development. The loan preceding will be utilized in constructing about 7 housing units complete with infrastructure facilities. Project Objective The project is aimed at improving the living conditions of locals and alleviating poverty through the provision of decent affordable housing units provided with all the necessary infra structural facilities. The project is part of the master plan to construct about 3,0000 units in suburb of the capital city. Contribution Amount AED 5,7,000 6 Annual Report

11 The Developmental Projects The Developmental Projects Funded During The Period ( ) Wadi Al Ramel Project Tunisia Marwi Dam Project Sudan Arpa - Sevan Hydraulic Tunnel Armenia Has sa Dam Yemen Merowe Dam -Additional Loan II Sudan Roseires Dam Sudan Financier Financier Government of Abu Dhabi Financier Financier Water and Agricultural Irrigation and Agricultural Power, Water and Agricultural Power, Water and Agricultural Type of Finance Development Loan Type of Finance Development Loan Type of Finance Development Loan Type of Finance Development Loan Project Description Project Description Project Description Project Description The project work consists of rehabilitation and refurbishment of 49 km long Arpa-Sevan hydraulic tunnel with its control and operating equipments. The tunnel divert about 50 million cubic meter of water from Arpa and Yeghegis rivers to feed Lake Sevan. Project Objective The project is aimed at assisting in achievement of ecological stabilization of the lake by raising the water level by 6 m in an effort to make up for the losses experienced through evaporation and over exploitation of the lake. The lake is used in provision of water for domestic and irrigation purposes in addition to supporting the fishery sector. The lake also plays an important part in the live of the Armenian community. Contribution Amount AED 36,730,000 The project work consists of construction of gravity concrete dam to trap and control the rains run off in order to utilized the water for irrigation proposes. The project includes construction of diversion weir, settlement tanks in addition to the main and secondary irrigation channels and the necessary control facilities. Project Objective The project is aimed at assisting in the development of the agricultural sector in Abyan delta in Has an valley. The dam with a storage capacity of about 9.5 million cubic meters will assist in irrigating about 3,000 hectare of land benefiting a population of about 00,000 people. Contribution Amount AED 75,475,000 The project work consists of construction of reinforced concrete dam across river Nile near Merowe some 350 km north of the capital Khartoum. The Dam is about. km across the river with a total length of 9 km and 60 meters in height. The project includes all the necessary civil works; the power plant to accommodate 0 generates each of a capacity of 5 megawatt and the electromechanical works. The works also include the transmission lines and the connection to the national grid. Project Objective The project is aimed at tapping into the huge hydropower potential of the country in generating electricity to meet the increasing demand for power in order to assist the economic growth of the country. The project generates about 50 mega watt of electricity that will be utilized for domestic, industrial and agricultural purposes. The preceding of the additional loan will be utilized in covering the financial gap in the electromechanical works The project consists of construction works necessary for raising the effective height of the existing concrete dam, located about 560 km south east of the capital Khartoum, with an additional 0 meter. The project also includes the electromechanical works for the power plant. Project Objective The project is aimed at assisting the countries economic growth through the development of the power sector in order to meet the excessive demand for electrical power. The project is expected to generate about 565 megawatt of electricity and assist in irrigating about.4 million hectare of fertile land. Contribution Amount AED 9,85,000 Contribution Amount AED 83,650,000 8 Annual Report

12 The Developmental Projects The Developmental Projects Funded During The Period ( ) Housing Units Project in Marj Al Tayeb, Assailah City Morocco Tangier Port Project Morocco Balance of Payment Sudan Asila Buses & Transport Terminal Station Morocco Asila Primary School Morocco Marouf Hospital Comoros Islands Financier Financier Financier Financier Several Development Transport Education Health and Social Type of Finance Development Loan Type of Finance Development Loan Type of Finance Development Loan Type of Finance Grant Project Description Project Description Project Description Project Description The loan preceding will be utilized in supporting budget deficit for industrial, health, transport and agricultural projects. Project Objective The project is aimed at supporting the balance of payment for the facial year and assisting in reduction of the government debt hence assisting the economic development of the country. Contribution Amount AED 367,300,000 The project works consist of construction of a modern Bus Terminal Station accommodating administration facilities, waiting & rest areas, commercial shops, restaurants, services area and parking areas. Project Objective The project is aimed at facilitating the ease of transportation to the cultural city of Asila and hence connecting it with the rest of the kingdom. The city hosts annual cultural activities that attracts internal and external tourism and hence plays an important role in the economic development of the country. Contribution Amount AED 0,468,050 The project works consist of construction of a primary school over an area of 5,850 square meter accommodating about 5 classes, administration building, play ground with facilities, teachers accommodation, and general services areas. Project Objective The project is aimed at assisting the development of the country through the development of the education sector. The school will serve to accommodate children residing in the social housing units financed earlier by the Fund Contribution Amount AED 4,407,600 The project consists of rehabilitation and refurbishment of the hospital buildings in addition to supply and installation medical equipments for the following sections:- Operating theaters and recovery rooms Maternity section Equipments for generation of Oxygen gas Project Objectives The project is aimed at assisting the economic and social development of the country through the provision of adequate health and treatment services. Contribution Amount AED 5,6,500 0 Annual Report

13 The Developmental Projects The beneficiary countries of the activities of the Fund The beneficiary countries of the activities of the Fund 0 - Afghanistan 0 - Algeria 03 - Armenia 04 - Azerbaijan 05 - B. Faso 06 - Bahrain 07 - Bangladesh 08 - Burundi 09 - Cape Verde 0 - Comoros - Congo - Dem.Rep. of Congo 3 - Djibouti 4 - Eritrea 5 - Eygpt 6 - Gambia 7 - Guinea 8 - Guinea Bissau 9 - India 0 - Indonesia - Jordan - Kazakhstan 3 - Kenya 4 - Lebanon 5 - Lesotho 6 - Madagascar 7 - Malaysia 8 - Maldives 9 - Malta 30 - Mali 3 - Mongolia 3 - Mauritania 33 - Mauritius 34 - Morocco 35 - Niger 36 - Pakistan 37 - Palestine 38 - Rwanda 39 - Senegal 40 - Somalia 4 - Sri Lanka 4 - Sudan 43 - Seychelles 44 - Syria 45- Tanzania 46 - Tunisia 47 - Turkmenistan 48 - Turkey 49 - UAE 50 - Uganda 5 - Oman 5 - Yemen Annual Report

14 Contributions And Investments Of The Fund Developmental projects Contributions and investments of the Fund Cooperation with development and financial organizations Charts Tables 4 Annual Report

15 Contributions And Investments Of The Fund Contributions And Investments Of The Fund ADFD s Contributions and Investments Distributions of the Fund s Investment Portfolio The direct contributions of aim to support the economy of the developing countries through: Building commercially sustainable facilities Creating multiple income sources for the local citizens Revenues accrued from foreign currencies Creating job opportunities Reinforcing technical and administrative skills The investment policy adopted by Abu Dhabi Fund for Development focuses on its investments in companies and projects with the potential to contribute to the realization of the economic development. In other words, to be eligible to those contributions, companies/projects are supposed to result in added value to the country s economy through generating tangible and considerable economic benefits in addition to other positive results where possible. As for its direct and long-term investments, adheres to their commercial sides on the long run. By the end of the fiscal year closed on 3 st December 008, the total value of the direct contributions of the Fund mounted approximately to AED 700 million. The Tourism and Hotel attracted the biggest share (4%) of the Fund s total direct investments. Two main reasons lie behind the Fund s concentration on this sector. First, investment in the Tourism yields direct and quick benefits such as creating more job opportunities and improving the standard of living. Second, prosperity of the Tourism would positively activate other sectors. The Fund s other investments are distributed on the Holding Companies (40%) of the Fund s total investments, Real Estate (%), Industry (5%), Agriculture and Fishery (.5%) and the Trading (0.4%) Sharm El-Sheikh Sofitel Abu Dhabi Tourist Investment Company (Egypt) Tourism Contribution Value (AED) Percentage Holding Companies 90,84, % Tourism 300,593,96 4.% - Abu Dhabi Tourist Investment Company (Egypt) Established in 988, the company owns and operates 3 fivestar hotels in Cairo, Sharm El-Sheikh and Hurghada. In addition, the company owns the majority of The Arab Misr Company for hotels, which owns a five-star resort in Luxor. - Company of Studies & Development for Sousse Nord (Tunisia) Set up in 973, the company works on the promotion and development of all touristic activities in North Sousse situated 60 km south of the capital Tunis. Industry Agriculture and Fishery Trading Real EState Total Trading 0% Agriculture & Fishery % Industry 5% 36,4,968,33,0 3,50,43 87,86,000 79,47,789 Real Estate % Holding Companies 40% 4.97%.55% 0.45%.04% 00.00% Sphinx Sofitel Hotel Located opposite to Giza Pyramids (Cairo), Sphinx Sofitel Hotel includes 80 rooms, in addition to a number of restaurants and cafes. The French group ACCOR (holding the commercial name Sofitel ) manages this hotel which was inaugurated in April 995. Hurghada Sofitel This luxurious touristic village is located on the Red Sea beaches on a surface area of 38 hectares. It includes 3 luxurious rooms, in addition to the restaurants and other recreational facilities. The village was inaugurated in February 995, and is run by the group ACCOR (holding the commercial name Sofitel ). Sharm El-Sheikh Sofitel This five-star luxurious resort occupies a surface area of 45 hectares on the south-eastern cost for the Sinai Archipelago. It overlooks on the entrance of al-aqaba Bay. The maritime façade of the hotel overlooks on Nehma Bay famous for its magnificent maritime environment, especially its coralline wealth which encourages the scuba diving. The village, inaugurated in January 997, includes 98 rooms, 4 world-class villas in addition to restaurants, cafes and recreational facilities such us tennis courts, diving, sailing and surfing. Since its establishment, the company has been executing one of the largest touristic development projects in Tunisia. The project includes apartments, villas, hotels, a touristic seaport, golf club as well as other entertainment utilities. This company is now considered as one of the most important sponsors of the long- term touristic development in Tunisia. The Fund owns 3.3% of its paid-up capital with the participation of Tunisian Development Bank. 3- Emirates-Moroccan PALMARE Company (Morocco) Established in February 987, the company owns a four-star touristic village made of 36 rooms, restaurants, cafes and many recreational facilities inside Marrakech city. This hotel accommodates mostly Western European tourists. Risma Company, belonging to ACCOR Group, manages this village by virtue under a lease management contract. 4- DELMA for Tourist Investments ( Morocco ) DELMA Company owns the five-star Casablanca-Sheraton, which is situated in the heart of Casablanca. Inaugurated in April 989, it includes 306 rooms and many restaurants with the largest occupancy made by businessmen. Tourism 4% 6 Annual Report

16 Contributions And Investments Of The Fund Contributions And Investments Of The Fund Textile and Clothes Factory which owned by UAE-Bangladesh Investment Company ( UBICO) Sofitel Karnak in (Luxor) which owned by Abu Dhabi Tourist Investment Company Industrial Agriculture and Fishery Holding Companies With two main investments in the Industrial, Abu Dhabi Fund for Development contributed 0% to Raysut Cement Company (Sultanate of Oman), and 5.3% to CIMAR (Morocco).. Raysut Cement Company (Oman) The company was founded in 98 with two production lines; namely, Portland cement and cement used in oil wells and pozolona. The company promotes its production in Zafar area (Oman). Since 996, the company has embarked on an extension plan intended to upgrade its production capacity from metric tons to metric tons of cement per year.. CIMAR Cement Company (Morocco) Although established in 97, the company could not produce Portland cement before 976. Its factories, with the primary production capacity of 550,000 metric tons/year, are situated 45 km from Marrakech. Union Maroc Emirat de Peches UMEP (Morocco) is the Fund s single investment in this sector.. Union Maroc Emirat de Peches UMEP (Morocco) Based in Aghadir, UMEP started operations in the late 986 with six trawlers well equipped for fishing in the high sea and with a capacity of 350 tons each. The trawlers, equipped with the best fish-detecting technologies, promote the squids and octopus they fish in the Japanese and West European markets. The company managed by its auto finance to buy 3 new trawlers in 995 and 996. The company is planning to expand in the future thanks to its record of operational and financial success. With the objective of investing in various sectors, established three holding companies for direct ivestment in Morocco, Bangladesh and Sudan.. UAE-Bangladesh Investment Company UBICO (Bangladesh) UBICO was established in 986 and Abu Dhabi Fund for Development owns 60% of the capital of this holding company, while the rest is owned by the government of Bangladesh. This company invested in a Textile and Clothes Factory situated at 0 km south Decca with a workforce of about The production of the factory is designated for exportation.. Societe Rebab - REBAB (Morocco) Established in 984, Rebab is a listed company in the Moroccan stock exchange. The company owns three companies that work under the hotel, mining, banking, and materials trading sector.. Al Dhabi Development Company LLC (Sudan) Established in October 007, the company is fully owned at 00% by the Fund and it owns Al Dhabi Agriculture Company and Al Dhabi Property Company, which owns the presidential villas in Sudan. In 995, the company embarked on an expansion plan which enabled it to increase its annual production capacity to,300,000 metric tons/year. It is now considered as one of the biggest cement producers in Morocco, and it covers about 5% of the local market needs. 8 Annual Report

17 Contributions And Investments Of The Fund Contributions And Investments Of The Fund Company Country Industry Percentage of ownership Coast of investment (AED) Al Dhabi Holding Company Sudan Holding 00% 75,48,500 Societe Rebab Morocco Holding 8.8% 3,688,59 Abu Dhabi Tourist Investment Company Egypt Tourism 84.8% 36,9,086 UAE Bangladesh Investment Company Bangladesh Holding 60%,03,000 Union Maroc Emirates de Peches Morocco Agricultural & Fisheries 40%,33,0 Societe Delma d lnvestissements Touristiques Morocco Tourism 33.7% 35,37,84 Societe d Etudes et de Developpment de sousse Nord Tunisia Tourism 3.3% 9,98,93 Al Dhabi Gulf Complex which is owned AL Dhabi Development Company Societe Palmeraie Maroc Emirats Morocco Tourism 7% 9,0,356 Trading Real State Raysut Cement Company Oman Industry 0% 4,94,967 Automobile Reseau Tunisien Et Services (ARTES) (Tunisia) Artes was founded in 997 with a capital of 5.5 million Dinar after the capital increase. Austrian Conference Center Company (Austria) Austrian Conference Center was founded in 984 as a collaboration between Austria and three Arab countries; Kuwait, Saudi Arabia, and the United Arab Emirates. The ACC ownership Austrian Conference Center Company Ciments du Maroc Automobile Reseau Tunisien Et Services (ARTES) Austria Morocco Tunisia Real Estate Industry Trading 7.5% 5.38% 5.00% 87,86,000,99,00 3,50,43 The company s activity includes selling new vehicles of the was transferred from Abu Dhabi Government to ADFD on the 9th of February 008, representing the UAE and owning 7.5% Total 79,47,789 type of Renault and spare parts and related services marked of the total shares of the company. Renault. Artes is the parent company of three companies, the Arthyfro (The Tunisian network for car sales) and the company Adav (Automobile and development) and Autronik. The Fund owns 5% of the capital of the company. 30 Annual Report

18 Cooperation With The Development And Financial Organizations Developmental projects Contributions and investments of the Fund Cooperation with development and financial organizations Charts Tables 3 Annual Report

19 Cooperation With The Development Organizations Cooperation With The Development Organizations Coordination Group Meeting number 59 in ADFD building signing the MOU with the Arab Authority for Agricultural Investment and Development Since its establishment, has pursued close cooperation with the regional and international development organization, in which the UAE makes contributions: The Arab Monetary Fund, International Monetary Fund, World Bank, Arab Organization for Agricultural Development, Arab Gulf Program for United Nations Development Organizations, Arab Fund for Economic and Social Development, Arab Trade Financing Program, Islamic Development Bank, OPEC Fund for International Development, Arab Bank for Economic Development in Africa, Arab Organization for Agricultural Development. The Fund s Cooperation with the Arab Authority for Agricultural Investment and Development In September 007, signed a Memorandum of Understanding with the Arab Authority for Agricultural Investment and Development with the purpose of jointly implementing a number of investment and development projects in the agricultural field in some developing countries. The Fund s Cooperation with Al Hilal Islamic Bank In September 008, signed a Memorandum of Understanding with the Al Hilal Islamic Bank to enhance mutual cooperation in all area of development where the Bank will participate in financing the projects undertaken by the Fund as a partner to ADFD s projects and activities in developing countries. ADFD s Active Role in the Arab Aid Instiutes: playing an active role in Coordination Group which founded in September 975 The Group includes the following Arab National & Regional Development Institutes, known today as Arab Aid Organization : Arab Fund for Economic & Social Development, Islamic Development Bank, Saudi Fund for Development, Kuwaiti Fund for Development, Arab Bank for Economic Development in Africa, OPEC Fund for International Development, Arab Gulf Program for United Nations Development Organizations. The group is knowen today as Arab Aid Organization The Arab Aid Organization (AAO) members work closely and coordinate their efforts to improve the efficiency of their aid to the developing countries and to co-finance the development projects effectively and deliberately. As result, AAO has managed to finance major projects that no individual institution could solely afford and successfully cope with the challenges associated therewith. So far, AAO has become one of the world renowned supporters and financiers of development projects. it has offered more than US$ 70 billion to finance giant development projects in 47 countries such as reconstruction of the war-ravaged Suez Canal cities in Egypt, Baniyas Power Plant Syria, developing the oil & gas fields in the Sultanate of Oman, the project of Marwi Dam in Sudan and infrastructure projects for economic development in Yemen in addition to many other projects. All in all, these projects strengthened the sinews of the beneficiary developing countries and improved the standard of living of millions of people therein. Therefore, such cooperation perfectly matches the vision and targets of the ADFD which are reflected in achieving sustainable economic development in developing countries 34 Annual Report

20 Charts. Geographical distribution of the total Developmental Projects. al distribution of the total Developmental Projects 3. Total distribution of ADFD and Abu Dhabi government activity Developmental projects Contributions and investments of the Fund Cooperation with development and financial organizations Charts Tables 36 Annual Report

21 Charts Charts al distribution of the total Developmental Projects Number of Projects Value Percentage Agriculture Irrigation and Land Reclamation 4 3, % Livestock & Fisheries % Water & Electricity 43, % Housing 7 3, % Transportation & Storage 49 4, % Industry & Mining 36 3, % Electrical Power & Transmission Project - Eritrea Social & Health Services 8, % Tourism & Hotels % Geographical distribution of the total Developmental Projects Telecommunication % Loans & Grants Arabic Countries African Countries Asian Countries Other Countries Total Studies & Technical Aids.3 0.0% ADFD Loans Other Total 3 49,95.3, % 00.00% ADFD Grants * All amounts are in million Dirhams AD Government Loans AD Government Grant Total ,74.83 Other 3% * All amounts are in million Dirhams Agriculture Irrigation and Land Reclamation 5% Telecommunication % Tourism & Hotels % Livestock & Fisheries 0% Social & Health Services 6% Arabic Countries 89% Water & Electricity % African Countries 5% Asian Countries 4% Industry & Mining 6% Other Countries % Housing 4% Transportation & Storage % Studies & Technical Aids 0% 38 Annual Report

22 Charts Charts Naser Complex - Egypt Aden Electricity - Yemen Total distribution of ADFD and Abu Dhabi government activity AD Government Grant 5% Statement Number of Projects Value in Dhs. Percentage ADFD Loans 6, % ADFD Grants % ADFD Contributions % AD Government Loans 4, % ADFD Loans 5% AD Government Grants 40 5, % AD Government Loans 8% Total % * All amounts are in million Dirhams ADFD Contributions 3% ADFD Grants 3% 40 Annual Report

23 Tabels. Geographic distribution of ADFD s overall development projects. Geographic distribution of AD government s overall development projects 3. The Fund s financial data profile Developmental projects Contributions and investments of the Fund Cooperation with development and financial organizations Charts Tables 43

24 Tabels Tabels Geographic distribution of ADFD s overall development projects Arabic Countries Number of Projects Value (AED) African Countries Number of Projects Value (AED) Algeria B. Faso 8.37 Bahrain Burundi 3.07 Comoros 9.7 Cape Verde Island 0.5 Djibouti 3 7. Congo Brazzaville 35.0 Egypt,07.00 Eritrea 04.6 Jordan Gambia 7.80 Lebanon Tanzania 45.9 Mauritania Guinea 5.0 Morocco,69.50 Guinea Bissau 0.53 Oman,76.60 Kenya.3 Sudan, Lesotho 6.66 Syria 8,09.34 Madagascar 4.90 Tunisia Mali UAE Mauritius 8.00 Yemen Niger 3.6 Total of Arab Countries 33 0,684.0 Rwanda 4.0 * All amounts are in million Dirhams Senegal Seychelles Uganda 8.95 Total of African Countries * All amounts are in million Dirhams 44 Annual Report

25 Tabels Tabels Geographic distribution of AD Government s overall development projects Asian Countries Number of Projects Value (AED) Arabic Countries Number of Projects Value (AED) Afghanistan 6.8 Bahrain Azerbaijan Egypt 4,908.0 Turkmenistan 8.86 Mauritania 7.80 Bangladesh Somalia India Sudan Indonesia Syria Kazakhstan UAE Malaysia 6.85 Lebanon,0.90 Maldives 7.7 Yemen Mongolia Algeria 88.5 Pakistan Jordan.0 Sri Lanka 9.9 Comoros 7.35 Total of Asian Countries Palestine 7.73 Morocco Oman 4,469.0 Other Countries No. of Projects Value (AED) Tunisia.00 Malta Total of Arab Countries 47 8, Turkey * All amounts are in million Dirhams Armenia Total of other Countries Total 88,504.8 * All amounts are in million Dirhams 46 Annual Report

26 Tabels Tabels. التوزيع اجلغرايف لإجمايل مûشاريع حكومة أابوظبي التنموية The Fund s financial data profile African Countries Zaire Number of Projects Value (AED) Year Total Loans Commitments for ADFD Total Disturbments Net Loans Commitments Total Grants Commitments for ADFD Total Loans Commitments for AD Government Total Grants Commitments for AD Government Paid Capital Mali Senegal Uganda Seychelles Kenya Tanzania Total African Countries Asian Countries Number of Projects Value (AED) Maldives 5.84 Bangladesh Afghanistan 0.9 Pakistan 4.75 Total of Asian Countries Other Countries Number of Projects Value (AED) Turkey Total 6 9, * All amounts are in million Dirhams 48 Annual Report

27 Location Map Emirates Palace Hotel Cornish Road (West ) ADNOC Hilton Abu DahbI Bainuna Road 34 Ministry of Justice Intercontinental Hotel Ministry of Energy and Mineral Resources St. 0 General Information Authority UAE Central bank Ministry of Foreign Affairs Tabreed Bainuna Road 34 Location Map 50 Annual Report

28 United Arab Emirates Abu Dhabi Al Bateen Area Bainuna Street P.O. Box 84 Tel: Fax: