Shaikh Mohammad Bin Zayed and Ali Mohammad Shein
Shaikh Mohammad Bin Zayed and Ali Mohammad Shein witness the signing of the Memorandum of Understanding between Khalifa Fund and Ministry of Finance and Planning of Zanzibar. The MoU was signed by Al Nowais and Abdiwawa. Image Credit: WAM

Abu Dhabi: His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received Dr. Ali Mohammad Shein, President of Zanzibar.

During the meeting, held at the Al Bahar Palace, Shaikh Mohammad and Shein discussed the existing relations between the two countries in the areas of investment, trade, tourism and other sectors, as well as ways of enhancing their future ties and several issues of mutual interest.

Shaikh Mohammad stressed that the UAE is prioritising its efforts to boost its relations with Tanzania, Zanzibar and Africa in general, to achieve development and prosperity.

2,000

Number of projects to be funded under the agreement

Shein thanked Shaikh Mohammad for the UAE’s support for Zanzibar’s overall development while highlighting his desire to enhance his country’s overall relations with the UAE to benefit from its pioneering expertise, especially in the light of the potential for further joint development and prosperity.

Moreover, the Khalifa Fund For Enterprise Development, has signed a Memorandum of Understanding with the Ministry of Finance and Planning of Tanzania to provide Dh36.8 million ($10 million) towards the development of micro, small and medium-sized enterprises in Zanzibar, in the presence of Shaikh Mohammad and Shein.

The MoU was signed by Hussain Jasem Al Nowais, Chairman of Khalifa Fund for Enterprise Development and Mohammad Ramia Abdiwawa, in the region.

35%

Share of the targeted projects for women

The project mirrors the UAE’s commitment to contribute actively to the government’s efforts to promote economic and social development in fraternal and friendly countries and to boost economic and social stability. It also emphasises the strong bilateral relations between the two sides.

He added that the Fund supports entrepreneurship and enables entrepreneurs to establish their micro, small and medium enterprises to contribute to a stable and balanced economy that promotes economic development in Zanzibar.

Al Nowais said, “The MoU signed today articulates the active role of the UAE and Khalifa Fund in promoting sustainable development. Khalifa Fund supports various development programmes prioritised by the Zanzibar Government to improve the region’s health care sector and accelerate sustainable development.

“The agreement will provide funding for about 2,000 expected projects to contribute to creating more than 9,000 new jobs for young people in Zanzibar in the coming period.”

He also noted that 35 per cent of the targeted projects will be for women, while the remaining will be available to all categories of citizens, especially those living in remote and poor areas. The agreement aims to enhance the living conditions of about 14 per cent of vulnerable sections in Zanzibar, he pointed out.

Al Nowais stressed that the Khalifa Fund was committed to take all necessary measures to implement the subsidised projects and supervise and work to provide corrective measures in case of this, as well as provide the required technical support and expertise.

He also stressed the importance of efforts between the two parties to provide an opportunity for young people and women to achieve their aspirations, through private projects that contribute to the economy of Zanzibar and developing poor areas across Zanzibar.