Abu Dhabi Fund for Development discusses

Abu Dhabi Fund for Development, ADFD, has received a visiting ministerial delegation from the United Republic of Tanzania at its headquarters. At the meeting, Adel Al Hosani, Director of ADFD’s Operations Department, discussed the fund’s current and upcoming socio-economic development ventures in Tanzania with Makame Mbarawa, Tanzanian Minister of Works, Transport and Communication.

Both parties stressed their keenness to further develop existing bilateral ties between ADFD and Tanzania that date back four decades, and to maximise mutual collaboration.

Adel Al Hosani Director of Operations Department at ADFD welcomed the Tanzanian Minister and his accompanying delegation to the fund and highlighted the importance of finding new partnerships. In his capacity as Director of Operations, he discussed ADFD’s socio-economic development portfolio in Tanzania, its vision to achieve sustainable economic growth and strategy to ensure aid effectiveness.

Al Hosani explained that ADFD is currently studying, exploring and assessing possible expansionary works on the Kidaho-Ovinza road project. Completed and officially opened in February 2015, ADFD’s Kidaho-Ovinza road project, a key infrastructure development in Tanzania, was funded by a concessionary loan with an estimated value of AED170 million (US$46.12 million).

Makame Mbarawa commended the UAE government on its relentless efforts to support all economic sectors in Tanzania, especially transport and infrastructure. He also praised ADFD’s dedication to alleviate standards of living around the globe and its unwavering commitment to assist the government of Tanzania in achieving the country’s development goals.

Since the first ADFD-Tanzania project in 1977, the fund has continued to assist the Tanzanian government through providing concessionary loans and managing the UAE government grants.

The total amount of loans and grants, estimated at AED233 million (US$64 million), has financed vital projects in the transport, industry, infrastructure and water sectors.