Finance ministry's report says H1'19 UAE grants climbed 56.7% to $2.8bn
According to OECD, the UAE is the world’s largest donor of official development aid relative to its national income
The value of grants provided by the UAE in H1 2019 rose 56.7% to $2.8bn (AED10.5bn), compared to corresponding numbers in the first half of 2018, while the total value of the UAE’s registered grants having spiked 14.7% to $3.6bn (AED13.3bn) in 2018, compared to 2017, according to statistics from the UAE’s Ministry of Finance.
State news agency, Wam, reported that grants from the UAE government, which is the world's largest donor of official development aid relative to its national income according to the Organization for Economic Co-operation and Development (OECD), comprises 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 UAE Central Bank stated that the value of grants issued in Q1 2019 more than doubled to $2.3bn (AED8.62bn) from $1.1bn (AED4.08bn) in the same period last year.
The value of UAE grants in Q2 2019 dropped to $509m (AED1.87bn), Wam reported