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Gulf Press > Business > ADFD funds projects worth Dh35.3 billion in 42 African countries
Business

ADFD funds projects worth Dh35.3 billion in 42 African countries

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Last updated: 2024/05/29 at 5:05 PM
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The Abu Dhabi Fund for Development (ADFD) has been a key player in supporting sustainable development projects across 42 African countries, investing a total of Dh35.3 billion over the past four decades. In 2023, ADFD participated in a UAE-led initiative, worth Dh16.5 billion, aimed at enhancing Africa’s clean energy infrastructure. This initiative, in collaboration with the Africa50 fund, aims to bridge Africa’s infrastructure funding gap by mobilizing public and private sector finance for key projects on the continent.

Mohammed Saif Al Suwaidi, ADFD Director-General, highlighted the UAE’s commitment to aiding African nations in their economic and social progress. ADFD has significantly contributed to infrastructure development, economic diversification, and unlocking the full potential of African economies over the last decade. Projects funded by ADFD, such as the Mohamed bin Zayed Solar PV Complex in Togo and a solar power plant in Sierra Leone, have provided sustainable electricity to thousands of households and improved energy stability in these regions.

In Kenya, ADFD financed the Nuno-Modogashe Road project to enhance transportation in northeastern Kenya, benefiting the livestock industry and connecting key routes in the country. Additionally, investments in the Senegal River region and Seychelles for hydroelectric, irrigation, and renewable energy projects have further contributed to sustainable development in these areas. ADFD’s funding for projects like the Butha-Buthe water network in Lesotho and the Gudule General Hospital in South Sudan have also played a crucial role in improving access to essential services such as clean water and healthcare in these countries.

The strategic partnerships and investments made by ADFD underscore the UAE’s commitment to supporting Africa’s development and promoting sustainable initiatives across the continent. By collaborating with local governments and organizations, ADFD aims to create long-lasting impacts that benefit communities and contribute to the overall growth and prosperity of African nations. Through its continued efforts, ADFD remains a key player in driving sustainable development projects and supporting economic growth in Africa.

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News Room May 29, 2024
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