Monday 23 July 2018

UAE offers $7.5bn in grants in H1; up 78pc

ABU DHABI, September 21, 2017

Domestic and international grants provided by the UAE rose 73.8 per cent to Dh 27.7 billion ($7.5 billion) during H1 2017, from a total of Dh 15.9 billion in 2016, according to the UAE Ministry of Finance.

''Grants provided by the UAE in the first six months of the year accounted for 10 per cent of total government spending, including federal and local expenditures, which are estimated at Dh266 billion over the same monitored period," the Emirates news agency Wam reported, citing MoF figures.

The UAE has been named the world's top aid donor in 2016 for the third year running by the Organisation for Economic Cooperation and Development, OECD, posting the highest ODA/ GNI ratio at 1.12 per cent.

Analysts say the significant rise in grants provided by the UAE since the beginning of the year further consolidates the country's top ranking as a leading provider of official development aid.

The UAE has been commended by international relief and humanitarian organisations for its unconditional assistance for the good and stability of all peoples.

An MoF breakdown of total government expenditures indicated that the total value of UAE grants during Q1, 2017 stood at Dh10.3 billion, claiming 6.9 per cent of Q1 spending, estimated at Dh149 billion.

In Q2, grants posted marked increase, surging to Dh17.4 billion, accounting for 14.8 per cent of total Dh 117 billion expenditures.

Tags: Ministry of Finance |

More Finance & Capital Market Stories

calendarCalendar of Events