Abu Dhabi, Oct 13 (IANS) The United Arab Emirates (UAE) will support projects in the developing countries to eradicate poverty, WAM news agency reported Tuesday.
The Abu Dhabi Fund for Development (ADFD) is committed to global poverty eradication by pledging support for projects that will improve lives of millions of people, it said.

The issue was highlighted at a special event organised here to mark the International Day for the Eradication of Poverty.

Professor Muhammad Yunus, Nobel Peace Prize winner and founder of Grameen Bank of bangladesh, was the chief guest.

In his keynote address, Yunus highlighted the importance of increasing funds for socio-economic growth in the developing world.

Fawzeia Hamad Al Mubarak, member of the ADFD board, said: “The aim of Abu Dhabi Fund for Development is to help developing countries achieve stronger economic growth through timely financial assistance. We are fostering partnerships with both private and governmental sectors to ensure that our objectives are attained.”

Al Mubarak said the ADFD has provided 23 billion UAE dirhams (about $6 billion) in loans, grants and equities to the developing countries till 2008. The ADFD was founded in 1971.