Abu Dhabi Fund for Development (ADFD) announced the extension of an Abu Dhabi government grant worth over USD 5 million to the Maldives. The grant seeks to support the balance of payments in the Maldives, improve the overall economic situation in the country, and aid the Maldivian government in achieving its development plans.
Director-General of ADFD, Mohammed Saif Al Suwaidi, and Maldivian Ambassador to the UAE, Dr. Hussain Niyaz signed a Memorandum of Understanding outlining the terms of the collaboration at ADFD's headquarters in Abu Dhabi.
Highlighting the keenness of the wise leadership of UAE to provide development aid where it is needed most, Mohammed Al Suwaidi said, that the grant re-affirms the dedication of UAE to support developing countries and helping them overcome the most pressing economic challenges. The funds are earmarked to finance key projects that will boost sustainable development in the Maldives.
Mohammed Al Suwaidi stated that ADFD is proud of the four-decade-long association with the government of the Maldives. He added that the fund is determined to continue the collaboration through financing infrastructure projects and economic reform programmes that will elevate living standards in the island country and stimulate the growth of key economic sectors.
Speaking after the signing ceremony, Ambassador Niyaz praised the role of UAE in assisting developing countries in achieving the strategic growth objectives. He added that with the help of the financial assistance of ADFD, the Maldives was well on track to achieving its sustainability outcomes.