Thursday, 16 October 2008 |
updated 1 minute ago
06:00 UAE time

YOUR DIRECTORY /

UAE aid donations reach $70bn

by This email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 28 October 2007

The UAE has contributed around $70 billion in development loans and aid since its creation three decades ago, an official told the UN.

Ahmed Al Jarman, permanent representative of the UAE to the UN, said 95 countries around the world had benefited from donations representing 3.5% of the federation’s gross domestic product, according to emirates news agency WAM.

“These foreign financial facilities constitute 3.5 per cent of the UAE's Gross Domestic Product (GDP), a percentage that is above the 0,07 bar set by the International Conference on Financing for Development held at Monterey, Mexico, in March 2002,'' Al Jarman said at a UN debate to review the Monterey recommendations.

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According to Al Jarman, the UAE has pledged to maintain its commitment to fulfilling Millennium Development Goals in cooperation with the international community. The country recently allocated $10bn for the development of primary education via the Dubai Cares campaign and contributes positively to efforts to alleviate poverty through its employment of expatriate workers, he said.

''The UAE foreign policy is based on principles of mutual respect and constructive cooperation in and contribution to achieving development and stability in the world” he added.

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