ADFD to manage AED 165 million Abu Dhabi government grant for Palestine

Published August 2nd, 2009 - 06:24 GMT

Abu Dhabi Fund for Development (ADFD) has provided an AED 165m ($ 45m) grant to the Palestinian Authority to commence development projects in the Palestinian territories.

 

The grant follows a memorandum of understanding signed by Mr. Mohammed Saif Al Suwaidi, Acting Director General of ADFD, and Dr.Khairi Al Aridi, the Ambassador of the Palestinian Authority to the UAE.

 

Al Suwaidi stated that the grant was in line with the ongoing support provided by the Abu Dhabi Government to the Palestinian people. “This funding is to be used to boost the standard of living and address the needs of the Palestinians by implementing various social and development projects in Palestine. We are keen to support the setting up of infrastructure that is pivotal to meet the needs of the local economy."

 

"Abu Dhabi Government is committed to bolstering the fraternal relationships and actively helping people in Palestine enjoy well-respected standards of living despite the ordeals and harsh times they have to undergo. Abu Dhabi Government has undertaken many similar initiatives to promote economic and social stability there," he added.


Dr. Al Aridi acknowledged the active role undertaken by Abu Dhabi Government to cement the ties between the peoples of both countries. He also praised both the high caliber initiatives through ADFD to help the Palestinian people and the UAE's active involvement in boosting peace, and social and economic stability there.

 

ADFD had supervised the construction of AED 228m ($55m) Sheikh Zayed City in Gaza Strip. Completed in 2005, the city aims to provide a modern living environment with amenities such as roads and water and electricity power distribution networks deemed essential to improve the life of people of Gaza Strip. Spanning over 400 square kilometers, Sheikh Zayed City includes 3500 housing units, schools, mosques, shops, commercial, management and office buildings, as well as power and water plants.

 


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