Dubai PR Network, Online Press Release from Dubai and Middle East
 
Infrastracture, Construction & Manufacturing(Real Estate & Retail)
Filter PR by
  
Abu Dhabi Fund for Development Earmarks AED40 Million Grant to Bolster Electricity Network in Comoros
 
  • His Excellency Mohammed Saif Al Suwaidi: “The grant is in line with the directives of the UAE leadership to supporting developing countries”
Abu Dhabi-UAE: 23 September, 2017:  Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, has allocated an Abu Dhabi government grant worth AED40 million to the Comorian government.
 
The grant will help enhance the efficiency of public utility systems, such as electricity supply, in the Comoros through installing new transformers and generators with a total capacity of 11 megawatts as well as rehabilitating existing distribution networks.
 
His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, and His Excellency Said Ali Said Chayhane, Comorian Minister of Finance and Budget, signed a Memorandum of Understanding (MoU) outlining the terms of the funding at ADFD’s headquarters in Abu Dhabi. Representatives of ADFD’s senior management and several high-ranking Comorian officials were also present at the signing.
 
Highlighting the grant’s positive impact on the overall economic situation in the Comoros, His Excellency Mohammed Saif Al Suwaidi said: “The UAE and the Comoros continue to enjoy close bilateral ties. The latest development grant is in line with the directives of the UAE leadership to supporting sustainable socio-economic growth in developing countries.”
 
He added: “ADFD’s top priority is to provide development funding that assists beneficiary nations in achieving their national growth agenda. Through improving the electricity networks in the Comoros, the Abu Dhabi government grant will help elevate the living standards of the island nation.”
 
For his part, His Excellency Said Ali Said Chayhane praised the UAE leadership’s global sustainable development efforts. In addition, he applauded the Fund’s unique approach towards driving growth in key sectors that ultimately equips developing nations with the means to achieve long-term prosperity.
 
It’s worth mentioning that the activities of ADFD in Comoros date back to 1979 where the Fund provided loans and grants worth AED69 million to finance five
projects supporting key sectors notably education, transport, health and electricity.
 
Since its inception in 1971, ADFD has financed development projects to the tune of about AED77 billion in more than 80 countries around the world through concessionary loans and Abu Dhabi government grants.

Posted by : Dubai PR Network Editorial Team
Viewed 5948 times
PR Category : Real Estate & Retail
Posted on : Saturday, September 23, 2017  12:33:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Drake & Scull Announces Series of Executive Management Appoi...
Next Story : Awqaf and Minors Affairs Foundation Inaugurates His Excellen...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Reverse the effects of hair fall with Crescina Re-Growth HFSC Shampoo [14817-Views]
Achieve whiter teeth at home with Spotlight Teeth White Strips [14006-Views]
Time for Some AIGNER Love [13450-Views]
Noble™ Anti-aging Skin Care Products [12865-Views]
Golden Bridge Rectangle Diamonds Celebrates The Virtuosity Of Art Deco Design Genius [12670-Views]
RUNWAY DUBAI creates a new buzz campaign for fashion tourism [12334-Views]
Skyline Conducted Women of Substance: A Panel Discussion on Women Empowerment [12292-Views]
UAE National Day celebrated in Skyline Carnival 2017 [12243-Views]
SUC signed MOU with Waldorf Astoria Ras Al Khaimah [12023-Views]
SUC conducted Tour Guide Training Program for SCTDA [11822-Views]
Calvin Klein Presents Steadfast Collection [10968-Views]
Gift gorgeous skin this festive season. [10236-Views]
Mohammed bin Rashid Launches UAE Astronaut Programme [10059-Views]
Mido's Multifort Escape - An uncompromising timepiece for exploring new horizons [9919-Views]
Sthan, bringing you authentic Frontier food from beyond borders, is now open in Dubai [9595-Views]
NIVEA MEN and Real Madrid Extend Partnership Globally Covering 70+ Countries [9595-Views]
Eberhard & Co. celebrates 130th Anniversary with special commemorative Edition Chrono 4 [8888-Views]
Coach Women's Lex Stainless Steel Bracelet Watch Collection [8552-Views]
Absolutely Rejuvenated Skin to Start the New Year [8381-Views]
‘Artistry' - Branded Jewellery show at Malabar Gold & Diamonds' outlet in Meena Bazar, Bur... [8253-Views]
BOSS watches presents Navigator Collection [8021-Views]
Celebrate the Festive Season With the Galleria on Al Maryah Island in Abu Dhabi [7546-Views]
Together for Egyptian Cinema: A Million happy viewers [7491-Views]
Feast your way into the festive season at The Coffee Club [6997-Views]
Bovet Presents Brilliant Is Beautiful Gala Benefitting Artists for Peace and Justice's Gl... [6728-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories