Egypt gets Dh4B in loans, grants from Abu Dhabi

abu dhabi — The abu dhabi Fund for development (adFd) has approved a total of dh4 billion worth of grants and concessionary loans to Egypt spanning across 64 development projects.

The funded projects spanned over diverse sectors — transport, housing, agriculture and irrigation, energy, industry and mining, education and healthcare.

“adFd’s work in Egypt over the past four decades is a 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,” said Mohammed Saif al Suwaidi, director-general of adFd.

al Suwaidi also complimented Egypt on making significant headway in fulfilling the nation’s development goals, on the occasion of Egypt’s July 23 Revolution day. he noted that such efforts would significantly contribute to improving the everyday lives of its citizens and accelerate Egypt’s economic growth.

“adFd also owns an 84 per cent stake in abu dhabi Tourist investment Company, a Cairobased hotel and tourism holding firm,” said al Suwaidi.

he emphasised adFd’s keenness to bolster the Egyptian government’s endeavours through financing projects that support infrastructure development — a prerequisite for socio-economic growth and prosperity. “The constructive cooperation between the two parties will continue to promote sustainable development in vital economic sectors that benefit the citizens of Egypt.” — Wam