UAE offers AED27.7 bn in grants in H1, 2017

Domestic and international grants provided by the UAE rose 73.8 percent to AED 27.7 billion during H1 2017, from a total of AED 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 percent of total government spending, including federal and local expenditures, which are estimated at AED266 bn over the same monitored period," the MoF figures showed.

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 percent.

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 AED10.3 bn, claiming 6.9 percent of Q1 spending, estimated at AED149 bn.

In Q2, grants posted marked increase, surging to AED17.4 bn, accounting for 14.8 percent of total AED 117 bn expenditures.

Source: Wam