From: Biniam Tekle (biniamt@dehai.org)
Date: Tue Jan 13 2009 - 11:35:05 EST
ADFD signs AED 73m project finance agreement with Eritrea
Jan 13, 2009 - 07:54 -
WAM Abu Dhabi, 13 Jan. 2009 (WAM) - Acting Director General of Abu Dhabi
Fund For Development (ADFD) Mohammad Saif Al Suwaidi today signed an
agreement with Al Ameen Hassan, Secretary, Office of President of Eritrean,
to finance infrastructure projects in Eritrea with total amount of AED 73
million.
Commenting on the agreement, Al Suwidi said: " This agreement comes in line
with the directives of President His Highness Sheikh Khalifa bin Zayed Al
Nahyan and close follow up of General/ H.H. Sheikh Mohammed bin Zayed Al
Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE
Armed Forces ,and with continually following of H.H. Sheikh Mansour bin
Zayed Al Nahyan, Minister of Presidential Affairs '&' Chairman of the Board
Directors of Abu Dhabi Fund for Development, to support developing countries
by providing them soft loans to implement development projects." "The
infrastructure projects under the agreement are considered vital to the
Eritrean people as they involve supply of agricultural equipment and
machines for drilling and road construction." In 1999, the ADFD contributed
AED 104 million in financing a project to build a power plant in Eritrea.
WAM/MAB
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