Abu Dhabi Fund for Development cooperates with Orbit Works to launch a satellite
Dubai, February 5 / WAM / The Abu Dhabi Fund for Development signed a cooperation agreement with Orbit Works, which aims to launch a satellite with a capacity allocated to the Fund in cooperation with a group of local partners in a strategic step that strengthens the UAE’s position on the map of global manufacturers of small and medium satellites.
The new satellite will contribute to monitoring the progress of implementation of development and investment projects financed by the Fund in various countries of the world, enhancing the efficiency of monitoring and the accuracy of data evaluation, and supporting decision-making based on advanced technology and innovation in development work.
The agreement was signed during the World Government Summit by His Excellency Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, and Dr. Hamdallah Moheb, CEO of Orbit Works, in the presence of a number of officials from both sides.
On this occasion, His Excellency Mohammed Saif Al Suwaidi expressed his pride in signing the agreement with Orbit Works, the leading Emirati company in the field of space technology, due to its qualitative achievements and advanced position at the regional and international levels. This cooperation coincides with the acceleration of the efforts of the United Arab Emirates to consolidate its position as a leading global center linking the East and the West in the space technology sector.
His Excellency added: “The signing of this agreement comes within the framework of establishing an integrated satellite system, supported by advanced software, innovative solutions and technologies for the Abu Dhabi Fund for Development, enabling it to follow up on the projects it financed in various continents of the world, and contributes to facilitating the monitoring of the operational processes of those projects, and enhancing the efficiency of follow-up and monitoring, ensuring the achievement of strategic objectives and the implementation of work according to the highest international standards.”
For his part, Dr. Hamdallah Moheb said: “We are proud of this strategic partnership with the Abu Dhabi Fund for Development, the ancient Emirati edifice and influential contributor locally and globally in supporting sustainable development paths and promoting economic and social prosperity for societies. This partnership represents an advanced model for integrating space technology with development work, opening new horizons for employing innovation in supporting decision-making, raising the efficiency of following up on projects and their achievements, and maximizing their long-term impact.”
This cooperation embodies a qualitative leap in the use of advanced space technologies to support development work, and confirms the UAE’s commitment to promoting innovation and global strategic partnerships in a way that contributes to achieving sustainable development with a tangible impact on societies around the world.
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