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Abu Dhabi Health Department & Endowments Authority Launch AED1bn Healthcare Fund

Photo : Abu Dhabi Media Office

The Department of Health – Abu Dhabi (DoH) and the Endowments and Minors Funds Management Authority (Awqaf Abu Dhabi) have joined forces to launch a groundbreaking AED1 billion healthcare endowment fund over five years. This initiative aims to further enhance endowment efforts in meeting the specialized healthcare needs of the community. Awqaf Abu Dhabi has pledged AED50 million as a cornerstone contribution to the fund and encourages institutions and the community to participate, amplifying the fund's potential for sustainable and perpetual healthcare funding.

Established in May 2023, Awqaf Abu Dhabi is tasked with promoting and developing the endowment sector to maximize social and financial impact across the community. This strategic partnership signifies a significant milestone, paving the way for more sector-focused endowments in Abu Dhabi.

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The agreement was formalized in the presence of His Excellency Mansoor Ibrahim Al Mansoori, Chairman of the Department of Health – Abu Dhabi, and His Excellency Abdul Hamid Saeed, Chairman of Awqaf Abu Dhabi. Her Excellency Dr. Noura Khamis Al Ghaithi, Undersecretary of the Department of Health – Abu Dhabi, and His Excellency Fahad Al Qassim, Acting Director General of Awqaf Abu Dhabi, signed the agreement.

The announcement was made during the inaugural Abu Dhabi Global Healthcare Week 2024 (ADGHW), hosted by the Department of Health – Abu Dhabi under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council. The Abu Dhabi Endowment Fund for the healthcare sector pledged to invest the raised funds in essential healthcare programs and treatments to address the financing gap.

His Excellency Mansoor Ibrahim Al Mansoori emphasized the significance of the initiative in making high-quality healthcare accessible globally. He underscored the department's commitment to collaboration with Awqaf Abu Dhabi, aiming to provide sustainable funding and enhance healthcare's social impact.

His Excellency Abdul Hamid Saeed hailed the partnership as a milestone for the endowments sector in the UAE, highlighting the power of collective efforts in creating positive community outcomes. He emphasized Awqaf Abu Dhabi's commitment to responsible fund management and the promotion of the Waqf concept for sustainability.

Her Excellency Dr. Noura Al Ghaithi highlighted the importance of systemic and sustainable finance solutions in addressing healthcare challenges. She emphasized the inclusive approach to healthcare, rooted in the cultural heritage of Waqf, to chart a course for a healthier future.

His Excellency Fahad Al Qassim underscored Awqaf Abu Dhabi's commitment to growing endowment values and promoting the Waqf concept as a catalyst for sustainability and social enterprise.

ADGHW, a government initiative by the Department of Health – Abu Dhabi, seeks to accelerate collaboration, innovation, and investment in the global healthcare and life-science ecosystem. It will facilitate dynamic discussions and collaboration among stakeholders to shape the future of healthcare.

May 16, 2024 11:36 a.m. 4426

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