Abu Dhabi funds projects worth Dh4 billion in Egypt

The Abu Dhabi Fund for Development (ADFD) has supported Egypt with government grants and concessionary loans worth Dh4 billion across 64 development projects.

The projects span diverse sectors, most notably transport, housing, agriculture and irrigation, energy, industry and mining, education and healthcare.
In addition, the ADFD owns an 84 per cent stake in Abu Dhabi Tourist Investment Company, a Cairo-based hotel and tourism holding firm.

On the occasion of Egypt's Revolution Day on July 23, Mohammed Saif Al Suwaidi, director-general of ADFD, complimented the government and people of Egypt on making significant headway in fulfilling the nation's development goals. He noted that such efforts would significantly contribute to improving the everyday lives of its citizens and accelerate Egypt's economic growth.

Al Suwaidi emphasised the ADFD's keenness to bolster the Egyptian government's endeavours through financing projects that support infrastructure development - a pre-requisite for socio-economic growth and prosperity.

He added: "The ADFD's work in Egypt over the past four decades is testimony to the fund's crucial role in boosting economic and social development across developing countries. The fund's projects align with the expansive vision and goals of the Egyptian government."

Source: Khaleej Times