ADFD finances nine sustainable development projects worth AED1.5 billion in Pakistan

ABU DHABI — Abu Dhabi Fund for Development, ADFD, has so far supported Pakistan with grants and concessionary loans on behalf of the Abu Dhabi government, valued at AED1.5 billion, across nine sustainable development projects.

The projects spanned diverse sectors, most notably transport, water and agriculture, healthcare, and education.

The ADFD, which is the leading national entity for development aid, and the Government of Pakistan, have enjoyed strong and long-standing ties dating back to 1981.

The synergies between the two sides continue to drive sustainable socio-economic development across key sectors that benefit the citizens of Pakistan.

ADFD’s country report issued to mark Pakistan’s Independence Day on 14th August, highlighted that the nine development projects have significantly contributed to improving socio-economic conditions in the country.

On the milestone occasion of the 70th anniversary of its independence, Mohammed Saif Al Suwaidi, Director-General of ADFD, extended his sincerest congratulations to the Pakistani government and people and wished them continued prosperity.

“ADFD’s role in financing these sustainable development projects across Pakistan underscores the fraternal relations and strong bilateral ties that the UAE and Pakistan share,” Al Suwaidi said.

Stressing the importance the UAE places on supporting developing countries, he added, “The comprehensive and wide spanning portfolio of development projects supported by ADFD in Pakistan can certainly be attributed to the strong relations between our countries as well as the wise directives, guidance and support of the Abu Dhabi government.

“At ADFD, we believe in assisting beneficiary governments in achieving their economic, sustainable and development schemes and goals. We are pleased that our support to the Pakistani government has elevated living standards and boosted strategic growth in that country.”

In line with ADFD’s strategy to focus on infrastructure projects that yield socio-economic growth, the Fund has injected considerable capital into supporting projects in Pakistan’s transport sector. Notable among these is the AED227-million 2013 Abu Dhabi government grant that ADFD managed for the construction of the UAE-Pakistani Friendship Road.

It also administered an estimated AED107-million Abu Dhabi government grant to develop two healthcare projects in Pakistan. In 2013, it provided AED94 million to construct the Emirates Hospital and in 2006, it allocated AED13 million to upgrade the Sheikh Zayed Hospital in Lahore with modern and internationally standardised equipment.

In line with the Pakistani government’s development goals, ADFD has played a crucial and supportive role in improving and advancing the country’s education sector. In this regard, in 2013, ADFD managed an AED46-million grant earmarked for training colleges. In 2009, it allocated AED7 million for fund expansion works at the Sheikh Zayed International Academy.

Source: Emirates News Agency