Skip Ribbon Commands
Skip to main content




ADFD Extends AED183.6 Million Loan to Montenegro to Support Agriculture Development


Abu Dhabi-UAE: 4 June, 2015 – Abu Dhabi Fund for Development (ADFD) today offered an AED183.6 million concessionary loan to the Government of Montenegro to support agricultural development sector.

The agreement was formalized at a signing ceremony at the ADFD headquarters in Abu Dhabi between His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD and Dr. Zoran Vukcevic, Director of Montenegrin Development Fund in the presence of His Excellency Prof. Dr Petar Ivanovic, Minister of Agriculture and Rural Development of Montenegro.

Aimed at accelerating economic development in Montenegro through supporting food security and boosting agricultural and livestock exports, the agreement seeks to enhance the competitiveness of Montenegro’s products to international levels. Towards this priority, the agreement supports mechanisms that elevate the quality and safety standards of agricultural and livestock production in the country, while opening up new markets for the country’s exports.

His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, said: “As a catalyst for inclusive development and food security, the UAE, through the Abu Dhabi Fund for Development, pursues an active policy in supporting agricultural investment across the developing world. To achieve this goal, ADFD is committed to ensuring necessary funding for development projects, especially in strategically important sectors that can significantly benefit the economies of developing countries.”

Al Suwaidi added: “Increased production and investment in agriculture will serve as an effective tool to achieving sustainable economic and social development across developing countries. In supporting such vital projects, we hope to create hundreds of job opportunities in the beneficiary countries, while contributing to the diversification of their economies and helping them achieve self-sufficiency in food and agricultural production.”

Commending the efforts of the UAE and ADFD in promoting synergies with Montenegro, His Excellency Prof. Dr Petar Ivanović, the Minister of Agriculture and Rural Development of Montenegro, said: “ADFD’s active involvement in financing agricultural projects in Montenegro will have a significant economic impact in the development of agricultural sector across the country.”

Describing the project and its implementation stages, he added: “The project funded by the ADFD comprises two phases. Phase one includes the provision of loans to farmers and companies operating in agricultural and livestock production as well as assisting and guiding them towards effective management and implementation of their projects. Meanwhile, phase two involves the procurement of services relevant to machinery, factories, warehouses, and agricultural land, as well as the refurbishment and construction of new factories and agricultural assets.”

In 2010, ADFD funded an AED38.9 million project that supports the water sector in Montenegro, providing drinking water to the coastal cities of Montenegro which are famous for their tourist attraction, and reflecting positively on the local economy.

ADFD is a national organization responsible for assisting developing countries through administering loans and direct grant aid on behalf of the Abu Dhabi government. The Fund aims to promote sustainable socio-economic development and private sector growth in target countries. Since its inception, ADFD has overseen the provision of AED64 billion towards financing 438 development projects in 76 countries around the world.

Terms of Use

Abu Dhabi Fund For Development “ADFD” is the lawful owner to, the “Website”. By using and accessing to the Website, we accept and agree to the following terms and conditions:

1-No Indemnities and no Warranties

The ADFD hereby disclaims any warranty, liability, express or implicit connected to any of the content displayed on in case of loss or damage or failure or sharing information to either hardware or data.

2-Proper usage

Visitors shall not use the Website to post, submit or otherwise distribute unlawful, defamatory, abusive, obscene or offensive materials as well not to violate third-party rights including copyright, trademark or privacy. Visitors also shall not access or attempt to access the Website and Features using interfaces aside from the ones provided by the Website.

3-Proprietary and Intellectual Rights

We acknowledge that all the information, data or otherwise contained in is the sole proprietary right as well as the intellectual property to ADFD and subsequently it entertains all the assumed standards and protection rights.

4-Reporting abuse

To report abuse of the Website, or violations of these Terms of Use, including defamatory, vulgar, threatening or misleading information, misappropriation of content, or any other inappropriate use, please “click here”.

5-Personal Information and Information Disclosure

The ADFD reserves the right to disclose any Visitor information, including personally identifiable information, when required by law or when necessary to investigate potential illegal activities such as fraud, violations of the Terms of Use, or when otherwise necessary to protect the property, rights and safety of the ADFD, Website Visitors or other third parties.

6-Privacy Policy

The Website collects two categories of information, General Information. The Website automatically collects non-personally-identifiable information using the Website’s cookies to monitor Visitor usage patterns and information. Examples of the collected information include: (i) domain names, (ii) time and date stamps, (iii) IP addresses, browser types or operating systems, (iv) pages that a Visitor views and the links used to arrive at the pages, (v) domain names of other websites that linked to the Website, (vi) Website landing pages and (vii) other general demographic information. Personally-Identifiable Information: Visitors that register with the Website to receive an email alert through ADFD share point service may be asked to submit personal information such as an email address. The Website shall not collect personally-identifiable information without the consent of a Visitor. The Visitor also maintains a right of rectification with regard to personal information and may modify or delete their personal information, in whole or in part, at any time.

7-Applicable Laws

The UAE laws shall be the applicable laws in case of any conflict, claim or otherwise liability encountered by the mere virtue of accessing or using the Website.

8-Contact us

The ADFD official website operates only under one domain name, and is not connected with the hosts of any other websites that may look similar to its official website. For questions regarding these Terms of Use, please contact the ADFD.

Back to links