The Abu Dhabi Fund for Development (ADFD) signed an MoU concerning the UAE’s grant to Djibouti, which is valued at Dh183.5 million, in implementation of the directives of Sheikh Khalifa bin Zayed Al Nahyan.
The signing ceremony was attended by Mohammed Saif Al Suwaidi, ADFD director-general, and Osman Mousa Drar, ambassador of Djibouti.
The grant is to finance a number of developmental projects and will continue over the next five years, in the form of installments, each worth Dhs36.7 million a year. In a statement on the occasion, Mr Al Suwaidi said that the ties between the UAE and the Republic of Djibouti are strong and distinct.
Mr Drar commended the UAE’s initiative and the role played by the Abu Dhabi Fund in strengthening the development process in Djibouti.
newsdesk@thenational.ae
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