ADFD supports the higher education system in Zambia
Zambia, 26 Feb 2014
<strong>“Establishment of 3 university colleges” <br />
ADFD supports the higher education system in Zambia
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Abu Dhabi, 26th Feb 2014 – Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the government of Zambia, by which ADFD will provide AED 36.7 million to contribute in establishing 3 university colleges in three different sites of the country.<br /><br />
The agreement was signed by His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD and H.E Pamela C. Kabamba, Permanent Secretary, Budget and Economic Affairs in Republic of Zambia. <br /><br />
This movement is in line with ADFD’s keenness to support and help developing countries face their development difficulties, through the provision of financial resources needed to finance development projects that would enable the governments of these countries to uplift the living standards of their people.
The provided loan by ADFD will be distributed for the purpose of establishing three colleges served three different specializations namely; Mathematics and Science, Technology and Applied Arts. The 3 colleges will be located in three different locations in Republic of Zambia, so it will help in raising the level of education within the Zambian people and make it easier for them to obtain the education, thus achieving the social and economic development.<br /><br />
ADFD gives huge attention to finance projects that enhance the infrastructure sector in developing countries, because of its vital role in accelerating the economic growth. Accordingly, education sector is one of the major sectors funding by ADFD, due to its significant role in promoting the participation of the various members within the community in the development process. <br /><br />
Education, especially higher and vocational education, also contributes to providing qualified graduates able to join the labor market, which an important advantage not only for improving the living standards and incomes of the population, but also enhancing the country’s ability to attract local and foreign investments to set up projects in the tourism, industry, agriculture and other sectors that contribute directly in supplying the components of sustainable development that countries aspire to achieve them.
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Commenting on the agreement, His Excellency Al Suwaidi said: “The promotion of the educational sector through the provision of the necessary infrastructure, one of the main priorities of the development plans implemented by the governments in developing countries, as the educated youth consider the solid base for the sustainable development in any country, but the lack of educational institutions and specialized education institutions deprived large segments of the population to complete their education and develop their skills to enable them to participate effectively in the development process. ”
“This loan substantiates the strong desire of the ADFD, driven by the directives and direct follow-up of its wise leadership, to extend its commitment to help developing countries in need all over the world by contributing effectively to support the development process, and help them to overcome the difficult economic conditions by improving the performance the main economic sectors in those countries, leading to advancing sustainable development and the ability of its economies to create more employment opportunities.” Al Suwaidi added
For her part, H.E Pamela C. Kabamba, Permanent Secretary, Budget and Economic Affairs in Republic of Zambia praised the Government of UAE role in solidifying mutual cooperation between the United Arab Emirates and the Republic of Zambia.
Describing the importance of the project H.E Pamela C. Kabamba, stated “There is no doubt that the contribution of ADFD to finance the colleges will reflect positively on the increased opportunities for obtaining the higher education in Zambia, hence the well educated and highly skilled people will be available to compete globally and meet the challenges that hinder the achievement of economic and social development desired. Also added, that the Government of Zambia strives to develop ambitious development plans that make Zambia by 2030 to become a middle-income countries.”<br /><br />
The Zambian Permanent Secretary, Budget and Economic Affairs also expressed her high esteem for the efficient role the Government of Abu Dhabi and the ADFD are playing in promoting development in his country by funding such vital development projects.
