Abu Dhabi Fund extends financial aid to Bloom Education
ABU DHABI, February 11, 2021
Abu Dhabi Fund for Development, the UAE's leading financial entity spearheading national and global development projects, has extended AED53 million ($14.4 million) in financing on preferential terms to Bloom Education, one of the country’s leading companies in the education sector.
This makes it one of the first beneficiaries of the ADFD’s AED1 billion ($272.2 million) initiative launched last year to help national companies operating in vital economic sectors.
The agreement was signed by ADFD Director General Mohamed Saif Al Suwaidi and Dr Rashid Khalfan bin Amer Althakhri, a board member of Brighton College in the UAE, being operated by Bloom Education in the presence of HE Khalifa Al Qubaisi, Deputy Director General of ADFD and other officials.
Commenting on the occasion, Al Suwaidi said: "We are pleased to extend our support to Bloom Education. Education is of critical importance to us, especially as the UAE focuses on building a knowledge economy."
"The Fund places the national economy as a top priority," stated Al Suwaidi.
“Emirati companies are the key drivers of our economy and we are committed to supporting them. We will ensure that they maintain their performances and emerge stronger. Their success is the UAE’s success, as well as our achievement,” he added.-TradeArabia News Service
