Thursday 5 August 2021

ADFD-funded housing project opened in Seychelles

ABU DHABI, November 20, 2019

A social housing project in the Seychelles, built with the aid of $9 million (Dh33 millon) from the Abu Dhabi Fund for Development (ADFD), the UAE's leading national entity for economic development aid, has been officially opened.
ADFD officials attended the opening ceremony of the project that spans three residential areas on Mahé – the largest and most populated island in the archipelago.
Aimed at increasing the supply of affordable and comprehensive accommodation options in the country, the crucial project comprises 106 housing units built to modern standards, gardens, as well as integrated road, electricity, water, and sewage networks.
The ceremony drew the participation of Pamela Charlette, Minister of Habitat, Lands, Infrastructure, and Land Transport of the Seychelles, a delegation representing the Fund, led by Mohammed Saif Al Suwaidi, director general of ADFD, Ahmed Saeed Al Neyadi, UAE Charge d’Affaires in the Seychelles, as well as several senior officials from the two parties. 
Speaking on the occasion, Al Suwaidi said: “ADFD is committed to supporting the Government of the Seychelles in implementing its strategic growth agenda, stimulating the economy, as well as creating job opportunities. Building on our strong bilateral ties, we are proud to contribute to achieving one of the country’s national priorities – increasing the availability of quality residential infrastructure to meet rising demand.”
He added: “The Fund is keen to help beneficiary countries through providing financial aid and operational expertise for key development projects in important sectors. Our focus on housing aligns with the United Nations’ Sustainable Development Goals (SDGs), particularly Goal 11: Sustainable Cities and Communities.” 
For her part, Charlette praised the UAE’s global development achievements and ADFD’s proven track record in financing projects that promote sustainable socio-economic growth worldwide. She added that the Fund’s support for this project is in line with the government’s plan to build about 2,000 housing units in the form of residential compounds.
Since its inception in 1971, ADFD has funded development projects in 92 countries, including 40 African nations, to the tune of Dh92 billion through concessionary loans, government grants, and investments. The Fund’s total expenditure in Africa amounts to an estimated Dh23 billion. ADFD has also invested in eight companies and two private equity funds to boost a variety of sectors on the African continent. - TradeArabia News Service


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