Abu Dhabi: The Abu Dhabi Fund for Development (ADFD) on Thursday signed a Memorandum of Understanding (MoU) with Comoros, offering Dh184 million to fund various development programs and projects.
Comoros President Azali Assoumani attended the signing of the MoU, which was signed by Mohammad Saif Al Suwaidi, Director-General of the fund, and Mohammad Al Amine Souef, Comoros Minister of Foreign Affairs and International Cooperation and the Francophonie. Senior government officials and representatives of the two entities also attended the signing.
The signing ceremony took place on the sidelines of the visit by the UAE delegation to Moroni, to discuss ways to promote bilateral cooperation between the two countries, in all areas related to economic, trade, investment and development.
Suhail Mohammad Faraj Al Mazroui, Minister of Energy and Industry, who is leading the UAE delegation said: “The MoU is part of the UAE wise leadership’s directives to finance vital development projects in Comoros and support the Comoros government in its efforts to achieve sustainable social and economic development.”
Al Suwaidi said that the fund’s top priority is to provide development funding to allow Comoros to achieve sustainable growth. It has already disbursed significant grants to help the Comorian government to overcome economic and developmental challenges in key sectors such as health, education, transport, water and electricity.
The details of the fund’s grant were revealed during a press conference held on the sidelines of the signing ceremony. Al Suwaidi said the fund will collaborate with the Comoros government by funding a host of development projects. The financing of development projects in Comoros comes within the framework of the grant that was earlier approved by the Abu Dhabi government to help improve the economic and social situation as well as sustainable development in the country,
“The fund contributed to helping the Comoros Government to overcome economic challenges and funded many development projects there for more than 35 years. It has allocated Dh253 million for development projects in the education, healthcare, water, energy and infrastructure sectors since 1979,” Al Suwaidi said.