ADFD funds Dh5.7 billion Jordan projects in 2016

The Abu Dhabi Fund for Development (ADFD) has provided financing for 31 development projects in Jordan with a cumulative value of Dh5.7 billion through government grants and concessionary loans by the end of 2016.

The projects covered several sectors, namely mining, water and irrigation, transport, housing, agriculture, energy, education and healthcare, it was revealed in a report issued by the ADFD to mark Jordan's 71st Independence Day.

The ADFD and the Jordan government have enjoyed close ties dating back to 1974. Their cooperation aims to achieve sustainable development goals in vital economic sectors that benefit the Jordanian population.

The ADFD manages the $1.25 billion (Dh4.6 billion) UAE government contribution to the Gulf Development Fund, a five-year grant programme of the GCC to finance development projects in line with the Jordanian government's strategic objectives. The end of 2016 marked the successful distribution of Dh4.459 billion.

Congratulating Jordan's people on the Independence Day, Mohammed Saif Al Suwaidi, director-general of ADFD, wished the country's government progress and success in achieving its sustainable development goals.

He said that under the directives of the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the UAE and Jordan have enjoyed a strong bond. He added that the UAE is keen to support friendly countries in achieving their sustainability and socio-economic agendas.

Imad Fakhoury, Jordanian Minister of Planning and International Cooperation, said: "The UAE has played an instrumental role in sustainable development endeavours in Jordan. Through the ADFD, the UAE government has provided funding for projects advancing Jordan's development priorities and socio-economic well-being since 1974."

He added: "The Jordanian government sees the ADFD as an essential partner of its long-term growth efforts. The Fund has successfully managed, allocated and distributed concessionary loans and grants to key sectors in Jordan, most notably infrastructure, healthcare, industry and mining, and water and irrigation."

Source: Khaleej Times