Chapter 1

Abu Dhabi Fund

1.1 The Abu Dhabi Fund for Arab Economic Development was established in 1971 initially as an agency of the Government of Abu Dhabi to help Arab countries and later its scope was widened to cover other developing countries in their economic development through provision of loans etc. India has so far received one loan from the Fund, in 1976, for financing part of the Garwhal-Rishikesh-Chilla Hydro-Electric Project in Uttar Pradesh. The Loan amount of UAE Dirhams 68 Million (US$ 17 Million) for the project has been fully drawn.

1.2 The details of loans, utilisation and debt servicing thereof are given in Annexure I.