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Image courtesy: WAM

UAE grants top $4bn in nine months

ABU DHABI, 27 days ago

The value of grants provided by the UAE in the first nine months of 2019 amounted to Dh14.8 billion ($4.02 billion), a growth of 8 percent from Dh13.7 billion in the same period of 2018, a media report said.

The total value of registered grants provided by the country during that period accounts for 74.7 percent of the total grants offered across the year, which totalled Dh19.8 billion, reported state news agency Wam, citing figures released by the Ministry of Finance.

These grants include current or capital transfers from the federal government to government authorities, international organisations and foreign governments, with the exception of transfers between the federal government and local governments.

The Organisation for Economic Co-operation and Development (OECD) ranked the UAE as the world's largest donor of official development aid, relative to its national income, in 2017.

According to the Development Assistance Committee of the Organisation for Economic Cooperation and Development, OECD, the UAE is the world's largest donor of official development aid, with grants accounting for 5.2 percent of its total government expenditure, which includes federal and local expenditures for each emirate amounting to Dh200.5 billion from January to the end of June.

Figures issued by the ministry show that the value of grants provided by the UAE in Q1 2019 amounted to Dh8.614 billion. During Q2 2019, the figure declined to Dh1.868 billion, before rebounding to Dh4.308 billion in Q3.

The total value of the grants provided by the UAE by the end of Q3 of 2019 accounted for 5 percent of the total government spending, including federal and local expenditures for each emirate, which stood at Dh292.9 billion by the end of September.




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