Abu Dhabi Fund grants Djibouti Dh183.5m

Abu Dhabi: The Abu Dhabi Fund for Development, ADFD, has signed an MoU concerning the UAE’s grant to Djibouti, which is valued at Dh183.5 million, in implementation of the directives of President His Highness Shaikh Khalifa Bin Zayed Al Nahyan.

The grant is allocated to financing a number of developmental projects to be identified and agreed upon in cooperation with the Government of Djibouti. The grant will continue over the next five years, in the form of instalments, each worth Dh36.7 million a year. The signing ceremony was attended by Mohammad Saif Al Suwaidi, ADFD Director-General, and Osman Mousa Drar, Ambassador of Djibouti.