Abu Dhabi
Acting on directives from President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, the Abu Dhabi Fund for Development (ADFD) has signed a Memorandum of Understanding (MoU) with the UAE Project to Assist Pakistan, whereby it presents a grant worth Dh367 million ($100 million) to fund development projects in Pakistan.
The MoU was signed by Mohammad Saif Al Suwaidi, Acting Director General of ADFD, and Abdullah Al Gafli, Director General of the UAE Project to Assist Pakistan, in the presence of a number of officials.
The grant will fund three vital development projects to bolster the transport, education and health sectors.
Al Suwaidi said, “The grant, which is under direct follow up by the UAE’s prudent leadership, reflects the UAE government’s interest in extending a helping hand to developing countries across the world in order to contribute to efforts to alleviate their suffering. The UAE is interested in being an effective partner in effective development projects, in particular in the infrastructure sector which is a pillar of economic and social development and the solid foundation of growth and prosperity of societies.”
The grant includes Dh223 million to fund the construction of Makeen-Miranshah Road, which will link South Waziristan with North Waziristan running though three cities and 20 villages. The project will also include the construction of 10 bridges spanning.
Dh92 million will be used to fund the second phase of the 1,000-bed UAE Specialist Hospital in Islamabad, one of the biggest health-care projects under construction in Pakistan. When completed, the hospital will be able to serve 6,000 outpatients a day.
Dh46 million of the grant will be used to build three vocational colleges in Khyber Pakhtunkhwa province.
For his part, Al Gafli said the agreement with ADFD will boost the UAE’s humanitarian efforts in Paksitan under the directives of the wise leadership of Shaikh Khalifa, and General Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces. The efforts are followed up by Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs and Chairman of the Abu Dhabi Fund for Development.
He affirmed that the grant will boost sustainable development and economic growth in Pakistan.
ADFD started its activity in Pakistan in 1981 when it provided a loan worth more than Dh66 million to fund the building of Tarbela Dam on the River Indus to boost Pakistan’s electricity sector.
