UAE offered AED39 bn in grants in nine months of 2017: Central Bank.

Grants offered by the UAE inside and outside the country stood at AED39 billion during the first nine months of 2017 an increase of 44.8 percent over the same period of 2016 when it reached AED15.9 billion according to statistics by the Central Bank of the UAE.

“Grants provided by the UAE in the first half of 2017 reached AED27.7 billion as compared with only AED1 billion in the corresponding period of 2016,” statistics showed.

The figures of the apex bank, which are based on the Ministry of Finance data, show that the grants provided in the first nine months of 2017 constituted 9.7 percent of the total government spending. This included spending of both the federal government and the individual emirates, which stood at about AED401 billion.

The UAE has been ranked as the world’s largest donor of official development aid, relative to its national income, according to the Organisation for Economic Co-operation and Development, OECD. The official development aid provided by the UAE during 2016 reached AED15.57 billion.

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Source: UAE Ministry of Foreign Affairs