Abu Dhabi Fund for Development Gives Egypt Dh4 Billion For 64 Projects
This comes after last year's Dh14.7 billion from the same fund.
The Abu Dhabi Fund for Development (ADFD) has just allocated 4 billion dihams in grants and loans to Egypt. The money is set to be put towards 64 projects spanning across a number of different sectors including healthcare, transportation, housing, education, energy, and agriculture, among others.
The announcement was made on the anniversary of the July 23rd Revolution by the Director General of the ADFD, Mohamed Al Suwaidi, who said in his statement "ADFD’s work in Egypt over the past four decades is a testimony to the fund’s crucial role in boosting economic and social development across developing countries. The fund’s projects align with the expansive vision and goals of the Egyptian government."
The decision is not a new move, as the ADFD had previously allocated 14.7 billion dirhams during Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed’s state visit to Egypt in April last year.