ADFD Discusses Collaboration, Investment Opportunities with Gambian President
Abu Dhabi,17 Jul 2019
His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, met with a high-level Gambian delegation to the UAE, led by His Excellency Adama Barrow, President of The Gambia, to discuss development funding and investment opportunities in the African country.
Delegates included several Gambian ministers and government officials. The meeting also drew the participation of His Excellency Fansu Bojang, Ambassador of The Gambia to the UAE.
In line with the objective of the UAE leadership to build strategic relations with African countries and actively contribute to sustainable development efforts on the continent, the two parties explored opportunities for deeper cooperation.
During the meeting, His Excellency Mohammed Saif Al Suwaidi conveyed the greetings of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE, Minister of Presidential Affairs and Chairman of ADFD’s Board of Directors, to the Gambian delegation. Furthermore, he highlighted the strong ties between ADFD and the Gambian government that date back to 1977.
His Excellency Mohammed Saif Al Suwaidi said: “We are keen to boost our relations through supporting Gambia’s national priority of driving sustainable development in key economic sectors. We look forward to exploring new investment prospects and expanding infrastructure development funding in the country.”
He added: “To date, ADFD has financed vital projects in 90 countries with the aim of elevating living standards and helping achieve the UN’s Sustainable Development Goals (SDGs).”
For his part, His Excellency Adama Barrow thanked the UAE leadership for its support of the Gambian people, praising the distinguished status of the UAE across diverse fields, especially economy. He also commended the role of ADFD in advancing the development process in The Gambia and presented an overview of the available investment opportunities in the country in the agriculture, tourism and transport sectors.
Since its inception in 1971, ADFD has funded development projects in 90 countries across the globe to the tune of AED92 billion through concessionary loans and Abu Dhabi government grants and investments. The Fund’s total expenditure in Africa amounts to more than AED20 billion, benefiting 40 nations. ADFD has also invested in 8 companies and two private equity funds to boost a variety of sectors on the African continent.