Abu Dhabi Fund for Development Mulls Funding New Projects in Morocco

The Abu Dhabi Fund for Development (ADFD), a government-owned entity, said it is examining new development projects proposed by the Moroccan government.

“The proposed initiatives of the Moroccan government will contribute to driving socio-economic growth across all key sectors and create new job opportunities. This latest round of talks highlights ADFD’s commitment to facilitating the UAE government’s grants to meet Morocco’s development goals,” The Emirati news agency (WAM) quoted Mohammed Saif Al Suwaidi, the director-general of ADFD, as saying.

Al Suwaidi is leading a delegation of the Fund on a visit to Morocco as part of the 2013 UAE government grant contribution of AED4.6 billion (US$1.25 billion) to the Gulf Development Fund, a grant program from the Gulf Cooperation Council member countries to finance development projects in Morocco over a five-year period.

On the occasion of this visit, Moroccan officials from the ministries of finance, higher education, scientific research, agriculture and fisheries and highway authority offered an overview of key projects in the field of sustainable development in their respective sectors

Since 1974, ADFD has successfully channeled the UAE government’s grants totaling $1.49 billion in support of 55 projects in Morocco.

The ADFD manages grants offered by the UAE government. To date, the Fund has funded 488 projects in 83 countries.

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