Abu Dhabi: Abu Dhabi Fund for Development (ADFD) will provide Dh1 billion to support the balance of payments and national housing project in Mali.

ADFD has signed two agreements with the Government of Mali. These include an Dh918 million concessionary loan to support the balance of payments in the country as well as an additional concessionary loan of Dh110 million to finance the implementation of phase two of Mali’s National Social Housing Programme.

Designed to improve liquidity and stimulate economic growth, the balance of payments support will also help in driving the Malian government’s socioeconomic development goals. In April 2018, ADFD extended Dh110 million for phase one of the same national housing project.