On behalf of Hamdan Bin Zayed, Zayed Bin Hamdan inaugurates the Abu Dhabi University Foundation

In attendance were Ahmed Al Sayegh, Chairman of AL DAR Properties and Head of the ADU Foundation's Administrative Board, Ali Saeed Bin Harmal Al Dhaheri, Chairman of Abu Dhabi University's Executive Board, Professor Paul Krugman, last year's winner of the Nobel Prize in Economics, Dr. Nabil Ibrahim, Abu Dhabi University Chancellor, Saeed Eid Al Ghafli, Sorouh's Chairman and member of the ADU Foundation's Administrative Board, and Abdulhamid Saeed, Managing Director of First Gulf Bank and member of ADU Foundation's Administrative Board.

The ADU Foundation was established with the improvement of educational opportunities for people in the United Arab Emirates as its core objective. It is fully committed to the vision of providing an enduring and valuable contribution to nation building in the United Arab Emirates through the provision of world class educational initiatives.

It aims to work with the public and private sectors, as well as individual benefactors, in developing and funding worthwhile educational initiatives and in doing so, to improve the knowledge and relevant skills of the people of the United Arab Emirates, to assist and promote the public and private sector in their social initiatives, and to support world-class research.

By fulfilling these objectives, the ADU Foundation will create a steady flow of students with relevant skills and knowledge and, in partnership with the public and private sectors, contribute to the ongoing prosperity of the United Arab Emirates.

The ADU Foundation specifically aims to offer financial support to students who are in need. It will also be financing scientific research and projects, which will be carried out by the university, to target solutions for problems facing the national development of the UAE.

Ahmed Alsayegh noted that this was an extremely important initiative for Abu Dhabi University. It is under the direct sponsorship of H.H. Sheikh Hamdan Bin Zayed Al Nahyan and its mission is to help improve and develop the academic processes at the university. It also seeks the support from all community members to conduct scientific research and support students who can not afford to study at the university.

Paul Krugman, the winner of last year's Nobel Prize in Economics, highlighted the importance of providing quality education in the world today, adding that education is the best sector to direct financial investments at, since education leads to the development process in all communities.