Two Abu Dhabi entities have signed loan agreements worth nearly Dh338 million with Bahrain to finance a water supply network project, it was announced on Friday.
The Abu Dhabi Fund for Development (ADFD) and the Abu Dhabi Export Office (ADEX) entered into an agreement with the Electricity and Water Authority in Bahrain for loans of Dh150 million and Dh187.32 million, respectively.
The project aims to enhance the capacity of the water transmission networks in the second phase of the Al Dour station to 50 million gallons, ensuring reserves of at least three days of consumption to cater to the residents’ everyday needs.
Apart from drinking water supply, the station will serve construction and industrial projects, thereby supporting Bahrain’s Electricity and Water Authority’s water strategy until 2030, which aligns with United Nations’ sustainable development goals.
The signing ceremony took place in Bahrain and was attended by several officials from both countries.
“The two loan agreements signed with the Electricity and Water Authority in the Kingdom of Bahrain demonstrate the depth of the brotherly relations between the UAE and Bahrain and the desire of our governments to maintain the strong bonds so both countries can work towards fulfilling each other’s aspirations and serving common interests. The project financed by ADFD and ADEX will raise the efficiency of water supply, contribute to water security and enhance the sustainability of water resources. We are keen to support the development objectives of the Government of Bahrain and enable it to achieve water security and sustainability goals,” said Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development and Chairman of the Executive Committee of the Abu Dhabi Exports Office.
Bahrain is one of the first countries where ADFD began its development activity in 1974. The amount of soft loans and government grants provided to Bahrain amounts to Dh23.12 billion, which covered 32 projects in vital sectors.