ADFD discusses collaboration with Guinea-Bissau delegation

ADFD discusses collaboration with Guinea-Bissau delegation

By Staff Report

Published: Tue 6 Aug 2019, 6:26 PM

Last updated: Tue 6 Aug 2019, 8:32 PM

Mohammed Saif Al Suwaidi, director general of the Abu Dhabi Fund for Development (ADFD), met with a high level delegation from the Republic of Guinea-Bissau led by its prime minister, Aristides Gomez, to discuss various opportunities for collaboration.
The two sides also discussed existing bilateral relations and explored ways of building synergies in areas of mutual interest, particularly those focused on development work and financing.
Mohammed Saif Al Suwaidi welcomed the visiting prime minister and his accompanying delegation to the ADFD headquarters and highlighted opportunities for deeper cooperation with the West African nation. "ADFD is keen to support development efforts and expand its activities in developing countries, especially in Africa. The Fund's projects in Africa have achieved positive outcomes over the years and contributed to stimulating sustainable economic growth and improving the living standards."
For his part, Aristides Gomez extended his appreciation to the UAE and ADFD for their efforts in helping developing countries achieve their national goals through financing crucial infrastructure projects that benefit key sectors and impact everyday life. He also noted that the visit helped identify issues of common interest to both sides, and commended ADFD's global reputation and experience in development work and funding.
Since its inception in 1971, ADFD has funded development projects in 90 countries across the globe to the tune of Dh89 billion through concessionary loans and Abu Dhabi government grants. The fund's total expenditure in Africa amounts to an estimated Dh20 billion, benefiting 40 nations. ADFD has also invested in eight companies and two private equity funds to boost a variety of sectors on the African continent.

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