SovereignWealthFunds.comAbu Dhabi Fund for Development
Abu Dhabi Fund for Development: what it invests in
Geography Global
Abu Dhabi Fund for Development: how big it is, and on what basis
Abu Dhabi Fund for Development: what it publishes
Published 4 · Partly 2 · Not published 4
Our 10 item score. It measures what is public, not how well a fund is run.
- CapitalS1
- AED 16B
At a glance. ADFD is Abu Dhabi's development finance arm, lending on concessional terms, managing government grants, investing abroad and financing UAE exporters. Since 1971 it has provided AED 249.86B (about USD 68.0B) across 108 countries, and its investments total AED 13.59B (about USD 3.7B). It does not publish total assets. S5 S1 S6
Key points
- Concessional loans of AED 158.96B and government grants of AED 58.23B to end 2025. S5
- Financed 13 projects worth AED 2.2B in 2025 across renewables, housing, transport, education, technology and water. S5
- Its export office ADEX signed more than 34 export financing deals worth AED 6.6B in 2025. S5
- Runs the USD 350M IRENA/ADFD Project Facility for renewable energy in developing countries. S2 S1
- Manages the UAE's USD 1.2B founding stake in the Asian Infrastructure Investment Bank. S1
- Chaired by Sheikh Mansour bin Zayed Al Nahyan; Mohamed Saif Al Suwaidi is Director General. S7
Interesting facts
Mandate and goals
Drive sustainable economic development worldwide in line with UAE foreign aid policy, and support UAE exporters through the Abu Dhabi Exports Office. S5
How it invests
| Industries | Renewables and climate, Infrastructure and utilities, Transport and logistics, Real estate, Technology, Agriculture and food security, Education S5 |
|---|---|
| Asset classes | Private credit, Private equity, Strategic state holdings S4 S1 |
| Stages | Infrastructure, Credit S4 |
| Geography | Global. 108 countries; over AED 52.7B in the Arab world S5 |
| Direct / through funds / co-invest | Yes / Yes / Yes S1 |
| Ticket size | No ticket size published; 2025 projects averaged about AED 170M S5 |
| Deal sizes seen | AED 20M (Sierra Leone road loan, 2011) to USD 1.25B (Morocco grant, 2013) |
| External managers | No external managers; invests through funds such as the Lives and Livelihoods Fund S1 |
| Co-investment programme | Co-finances with the Arab Coordination Group, IRENA and the AIIB S1 |
Published criteria
- Projects in partner countries, usually agreed with governments. S4
- Renewable loans through IRENA are recommended by IRENA and approved by ADFD. S2
- Export finance backs UAE companies selling abroad. S5
Fund commitments
Past investments
| Year | Investment | Type | Sector | Stage | Amount |
|---|---|---|---|---|---|
| 2025 | 13 development projects. Renewables, housing, transport, logistics, education, technology and water projects. S5 | Direct investment | Infrastructure and utilities | Infrastructure | AED 2.2B |
| 2023 | Lives and Livelihoods Fund phase 2. Commitment to the development fund's second phase. S1 | Fund commitment | Healthcare and life sciences | Not stated | USD 50M |
| Not published | Asian Infrastructure Investment Bank. UAE founding capital contribution, managed by ADFD. S1 | Direct investment | Infrastructure and utilities | Infrastructure | USD 1.2B |
| 2014 | Solar Park Freetown, Sierra Leone. Half the cost of a 6 MW solar plant, with the government funding the rest. S2 | Co-investment | Renewables and climate | Infrastructure | AED 33M |
| 2013 | Gulf Development Fund grant, Morocco. UAE share of a USD 5B Gulf grant, which ADFD administered in full. S2 | Direct investment | Infrastructure and utilities | Not stated | USD 1.25B |
| Not published | UAE-Pacific Partnership Fund. Solar and wind projects in five Pacific states, delivered by Masdar. S2 | Joint venture or partnership | Renewables and climate | Infrastructure | USD 50M |
| 2012 | IRENA/ADFD Project Facility. Concessional renewable energy loans over seven cycles. S2 | Fund commitment | Renewables and climate | Credit | USD 350M |
| Not published | Tanger Med port, phase one. AED 734.6M loan and AED 367.3M grant. S2 | Direct investment | Transport and logistics | Infrastructure | AED 1.1B |
Case studies
Renewable finance with IRENA S2 S1
- What: A USD 350M concessional loan facility for renewable projects in developing countries, chosen with IRENA.
- When: From 2012
- Size: USD 350M
- Why: Speed up renewable energy where finance is scarce.
- Outcome: Projects approved in countries including Ecuador, Mali, Maldives, Samoa and Sierra Leone.
Building Tanger Med S2
- What: Loan and grant for the first phase of Morocco's Mediterranean port.
- When: Phase one
- Size: AED 1.1B
- Why: Port capacity to drive trade and jobs in northern Morocco.
- Outcome: Second phase was planned by 2014.
Export finance through ADEX S5
- What: The Abu Dhabi Exports Office signed export financing agreements for UAE companies.
- When: 2025
- Size: AED 6.6B
- Why: Help UAE exporters reach more than 40 markets.
- Outcome: More than 34 agreements in the year.
Investment process
An eight-member board chaired by Sheikh Mansour bin Zayed Al Nahyan oversees the fund; the Director General runs operations and chairs the ADEX executive committee. S7
| Committee | Role |
|---|---|
| Board of Directors | Eight members S7 |
| ADEX Executive Committee | Export finance, chaired by the Director General S7 |
- Partner government or project sponsor requests finance. S4
- Appraisal and approval by ADFD. S2
- Signing of loan or grant agreement and disbursement. S2
How to approach: E-services and a contact page on the website; ADEX handles exporter requests. S4
Size and returns
- Headline size: Not disclosed (Total assets (balance sheet), as of 2026-04-01) S5
- Cumulative financing since 1971: AED 249.86B (about USD 68.0B) (Committed or authorised capital, as of 2026-04-01) S5 S6
- Investments: AED 13.59B (about USD 3.7B) (Portfolio value, as of 2026-04-01) S5 S6
- Capital: AED 16B (Committed or authorised capital) S1
- Returns: the fund does not publish a return figure.
Leadership
Governance and transparency
- Legal basis: Government of Abu Dhabi entity created in 1971 S1
- Oversight: Board of Directors chaired by Sheikh Mansour bin Zayed Al Nahyan S7
- Represents the UAE at the AIIB. S1
- Annual report published each spring. S5
Transparency score: 5.0 of 10 (band 3 of 5). Our own 10-item rubric; see the methodology page.
History
For family offices
ADFD lends and grants mainly to governments and does not describe a route for private investors. Private firms meet it as contractors, co-financiers or UAE exporters. S4 S5
Reports
- ADFD 2025 annual report highlights: https://www.adfd.ae/en/media-center/news/2025-annual-report-highlights-uae-economic-competitiveness-and-sustainable-development-globally S5
Common questions
When was ADFD founded?
It began financing projects in 1971. S1
How much has it financed?
AED 249.86B to end 2025, about USD 68.0B. S5
Who leads it?
Mohamed Saif Al Suwaidi is Director General; Sheikh Mansour bin Zayed Al Nahyan chairs the board. S7
Is it a sovereign wealth fund?
It is a development fund with an investment arm. S4
Is it an IFSWF member?
No. S3
Related profiles
- Public Investment Fund (PIF) Saudi Arabia · SAR 3,396B
- Mubadala Investment Company United Arab Emirates (Abu Dhabi) · AED 1,414B
- National Development Fund of Iran (NDFI) Iran · About USD 195B (stated, unaudited)
- XRG, ADNOC international investment company (Abu Dhabi) United Arab Emirates (Abu Dhabi) · USD 150B+, estimate
- National Development Fund (NDF) Saudi Arabia · About SAR 430B
- Oman Investment Authority (OIA) Oman · OMR 22.922B
All sovereign wealth funds in Middle East · All strategic development funds · All funds in United Arab Emirates
Sources
Disclaimer
Informational only. SovereignWealthFunds.com is an independent public-source reference. It is not affiliated with or endorsed by any fund named on it, and it is not investment, legal or tax advice. Figures are as of the dates shown next to them and may have changed; please read each fund's official pages, linked on its profile. To report an error, use the contact page. Copyright SovereignWealthFunds.com. All rights reserved.
