UAE | Government
President of UAE grants $10 million for Djibouti
President His Highness Shaikh Khalifa Bin Zayed Al Nahyan has instructed to give $10 million to Djibouti as a support to its foreign balance of payment.
- WAM
- Published: 16:38 August 20, 2008
Abu Dhabi: President His Highness Shaikh Khalifa Bin Zayed Al Nahyan has instructed to give $10 million to Djibouti as a support to its foreign balance of payment.
Shaikh Khalifa's gesture reflects brotherly ties, solidarity and assistance to the government of Djibouti to meet its obligations in regard to commodity imports and other necessary items.
Idriss Ahmad Chirwa, Djibouti Ambassador to UAE, hailed the initiative of Shaikh Khalifa, adding that “such gesture is expected from Shaikh Khalifa, who is always well ahead when it comes to the Arab solidarity. This initiative strengthens brotherly relations between the two countries''.
He said the UAE and Djibouti enjoy distinguished trade relations, adding that the imports from the UAE stood at $400 million in 2007. Meanwhile, the UAE investments in the horn of Africa country of Djibouti, in housing, ports and tourism touched $1 billion in 2007.
The Abu Dhabi Fund for Development executes a number of developmental projects in Djibouti in line with its efforts to assist the Arab and developing countries.
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