Page 33 - DOF Annual Report 2018

Annual Report 2018 - Department of Finance 33 08 Fifth outputs group: Public Debt
This outputs group aims to organise and manage the Public Debt (Government borrowing), Government Guarantees, and Government Lending.
The Public Debt outputs group comprises of the following main outputs:
Public Debt and Government Guarantees Government Lending Public Debt and Government Guarantees
This output aims to manage the Public Debt and Government Guarantees. Law No. 1 of 2017 concerning the Financial System of the Government of Abu Dhabi defined Public Debt as the funds borrowed by the Government or Government Entities from individuals or institutions and any loans approved by the Government in writing. Government Guarantees were defined as a written pledge where the Government explicitly commits to pay the loan if the borrower fails to pay.
Government Lending
This output aims to regulate the Government lending process, as these loans provide capital for projects that the Government considers as strategic and that are may not be eligible for an open market loan. Government loans are aimed at achieving long-term social and economic goals such as improving the local economy and the quality of life of citizens, developing human capital and encouraging innovation and entrepreneurship.
2017 Achievements
Several achievements were accomplished within this outputs group during 2017. Following are the highlights of those achievements:
Issued Government bonds for a total amount of USD 10 billion over three tranches, as follows:
123
First Second Third Tranche Tranche Tranche
Value (USD bn) Years
Notes Due
Yield Points
343 5 10 30
2022 2.571 % 65
2027 3.187 % 85
2047 4.177 % 130