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Latest Dubai Press Releases >> Banking and Investments

  • Delegation from Abu Dhabi Fund for Development meets Chadian President 
  • Visit reinforces Abu Dhabi's commitment to supporting Chad's National Development Plan 2017-2021
  • His Excellency Mohammed Saif Al Suwaidi: “The Fund is keen to assist the Chadian government in implementing its development goals”
Abu Dhabi-UAE: 28 December, 2017 –  A delegation from the Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, last week met with the Chadian President His Excellency Idriss Déby in Chad's capital N'Djamena.
President Déby praised the strong bilateral ties between the UAE and Chad, highlighting ADFD's role in advancing sustainable development worldwide. His Excellency Mohammed Ali Musabah Al Shamsi, UAE Ambassador to Chad, and senior officials from the Chadian government also attended the meeting.
Speaking on the occasion, His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, said: “In line with the directives of the UAE leadership, the visit of the ADFD delegation aims to boost collaboration with the Chadian government and receive a first-hand brief about the priorities of Chad's National Development Plan 2017-2021. ADFD is keen to assist the Chadian government in implementing its development goals across key sectors, such as infrastructure, health, education, and social services.”
During the two-day visit, the delegation held a seminar for Chadian officials explaining ADFD's funding parameters and guidelines. The two parties discussed joint opportunities in the funding of development projects and access of the UAE private sector to investment in Chad.
The participants commended the ADFD-funded UAE government contribution of US$150 million to support the Chadian government's National Development Plan 2017-2021, announced at the Development and Investment in Chad Conference in Paris in September 2017. Within this framework, the Fund allocated US$50 million for UAE companies wishing to invest in the Central African nation.
Since its inception in 1971, ADFD has financed development projects in more than 80 countries across the globe, including 35 African nations, to the tune of AED77 billion through concessionary loans and Abu Dhabi government grants. The Fund's total expenditure in Africa amounts to an estimated AED20 billion.

Posted by : GoDubai Editorial Team
Viewed 5960 times
Posted on : Thursday, December 28, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
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