Saturday 23 June 2018

Abu Dhabi funding of Pakistan projects hits $408m

ABU DHABI, August 14, 2017

Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, has till date supported Pakistan with grants and concessionary loans valued at Dh1.5 billion ($408 million) across nine sustainable projects.

The projects spanned diverse sectors, most notably transport, water and agriculture, healthcare, and education.

ADFD’s country report issued to mark Pakistan’s Independence Day on August 14 highlighted that the nine development projects have significantly contributed to improving socio-economic conditions in the country.

On the milestone occasion of the 70th anniversary of its independence, Mohammed Saif Al Suwaidi, director general of ADFD, extended his sincerest congratulations to the Pakistani government and people, and wished them continued prosperity.

Al Suwaidi said: “ADFD’s role in financing these sustainable development projects across Pakistan underscores the fraternal relations and strong bilateral ties that the UAE and Pakistan share.”

“The comprehensive and wide spanning portfolio of development projects supported by ADFD in Pakistan can certainly be attributed to the strong relations between our countries as well as the wise directives, guidance and support of the Abu Dhabi government.

“At ADFD, we believe in assisting beneficiary governments in achieving their economic, sustainable and development schemes and goals. We are pleased that our support to the Pakistani government has elevated living standards and boosted strategic growth in that country,” he added. – TradeArabia News Service

Tags: Pakistan | Financing | Abu Dhabi Development Fund |

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