Abu Dhabi Fund for Development and Turkmenistan Explore Cooperation Prospects
His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), held a virtual meeting with Merdan Annadurdyyev, Chairman of the Board of the Central Bank of Turkmenistan, and other officials from different entities of the country.
The two sides reviewed their strong relations that led to Turkmenistan benefiting over the years from ADFD’s funding of major developmental projects, especially in health care, and explored the prospects of ADFD financing new development projects in vital sectors of the country, as well as investment opportunities there through a mutual investment fund.
Highlighting the time-tested relations between ADFD and Turkmenistan, HE Al Suwaidi said: “Our partnership goes back decades. It’s a relationship that is based on a solid foundation of mutual trust and respect. We are really pleasure to see that the Fund’s contribution is helping Turkmenistan to achieve its socioeconomic-development objectives. We are committed to helping the country in every way within our capacity so that it can achieve further prosperity. Ours is an ideal partnership as it caters to mutual interests.”
Mr Annadurdyyev acknowledged ADFD’s steadfast support to his country’s developmental agenda. “Thanks to ADFD, we have been able to implement some crucial projects, especially in the healthcare sector. We look forward to expanding our cooperation further in mutual interest,” he said. The Turkmen official also praised the role of Abu Dhabi Exports Office (ADEX), which was set up by ADFD last year to serve the dual purpose of facilitating UAE exporters to expand their presence in the global market, as well as helping foreign governments for procure UAE products and services by availing of its attractive loan facility. He expressed hope that the office will boost bilateral trade.
Since 1999, ADFD has financed two major projects in health sector in Turkmenistan with an aim to improve the quality of healthcare services in the country. Notable projects include the establishment of a kidney disease treatment center, rehabilitation of existing clinics, as well as the rehabilitation of the Archman health resort of specialty hospitals offering treatment for complex diseases to reduce disabilities and mortality rates among the population.
It’s worth mentioning that ADFD has supported Turkmenistan with development funding valued at AED182 million to support the health sector.
Abu Dhabi Fund for Development
Established in 15th of July 1971, Abu Dhabi Fund for Development (ADFD) is an autonomous national entity affiliated with Abu Dhabi government.
ADFD aims to help developing countries to achieve sustainable socio-economic growth; through financial assistance in the forms of concessionary loans, managing government grants and equities. ADFD also peruses investments in order to encourage the private sector in the recipient countries to play an essential part in accelerating the economic development process, and at the same time playing a pivotal role in strengthening and diversifying the future resources of the Fund.