Abu Dhabi Fund for Development (ADFD) will be providing MVR
771 million (USD 50 million) to the Maldives as grant aid for the year
2020.
The ADFD made the commitment in the Memorandum of
Understanding (MoU) signed between the Government of Maldives and the ADFD
signed, in Dubai. The Minister of Foreign Affairs His Excellency Abdulla
Shahid, signed the MoU on behalf of the Government of Maldives, and His
Excellency Mohammed Saif Al-Suwaidi, Director General of the ADFD signed on
behalf of the Fund.
The signing of the MoU demonstrates ADFDs commitment in
supporting the development agenda of the Maldives. ADFD has been an important
development partner of the Maldives since late 1970s, supporting the country on
key infrastructure projects. The MoU signed provides the single largest grant
aid by the ADFD to the Maldives.
Commenting on the occasion, His Excellency Mohammed Saif Al
Suwaidi said, "This agreement articulates ADFDs commitment to supporting
the development programs of the Maldivian government to drive economic growth
and achieve sustainable development in the country."
Al Suwaidi added, "At ADFD, we take a keen interest in
supporting infrastructure projects given its importance and far-reaching
developmental impact on various sectors. In addition to catalysing
economic growth and boosting sustainable development, such projects help
create an enabling environment for foreign investments, and stimulate growth in
trade, transport and tourism. Furthermore, they create thousands of job
opportunities for local communities and provide them with improved livelihoods"
Abu Dhabi Fund for Development (ADFD) is a national entity who
aims to help develop countries to achieve sustainable socio-growth through
financial assistance in the forms of concessionary loans, managing government
grants and equities.
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