TANGIER: A delegation representing the Abu Dhabi Fund for Development (ADFD) has been briefed on plans to complete the second phase of the Tangier-Mediterranean Port in the Kingdom of Morocco.
ADFD funded the first phase with a development loan of Dh734.6 million, along with a government grant valued at Dh367.3 million, bringing the total funding of the project from the UAE to some Dh1.1 billion. The briefing took place during the delegation’s tour to inspect projects carried out by ADFD in Morocco.
In a statement during the visit, Mohammad Saif Al Suwaidi, ADFD’s Director-General, said that the fund finances many vital projects in Morocco, including the Tangier-Mediterranean Port, based upon the ADFD’s belief in the important role played by seaports in assuring sustainable economic development.
