Abu Dhabi Fund invests $6.3bn in Bahrain's development projects
MANAMA, 4 hours, 24 minutes ago
Abu Dhabi Fund for Development's (ADFD) partnership with Government of Bahrain represents a model collaboration for sustainable development.
Since 1974, this strategic relationship has supported Bahrain’s economic vision and contributed to its comprehensive development goals, said a statement from ADFD.
To date, the Abu Dhabi Fund has financed 33 development projects in the country, totalling AED23 billion ($6.3 billion), it stated.
These initiatives span critical sectors such as housing, energy, transport and health, helping to meet financial needs and support Bahrain’s fiscal balance programme for 2023 and 2024, boosting the economy.
Impact of Projects
The Fund continues with its development initiatives aligned with Bahrain’s Economic Vision 2030, reinforcing strong ties between the two nations.
The projects financed by ADFD have improved the quality of life, supported sustainable development goals, and helped the government meet the various needs of its citizens, it stated.
Commending the Bahraini government, leadership and people on the country’s National Day and for its sustainable development, Mohamed Saif Al Suwaidi, Director General of ADFD, said: "The strategic relationship with the Government of Bahrain is a unique model of development cooperation that has endured for more than 50 years."
"This partnership has resulted in significant achievements in many economic sectors, contributing to achieving comprehensive development that benefits Bahraini society," he stated.
Al Suwaidi said the Gulf Development Fund programme for the Kingdom of Bahrain, which was approved in 2013, represented one of the most prominent aspects of this cooperation.
"The programme exemplifies the support the UAE provides on sustainable development through ADFD, strengthening infrastructure and vital sectors in alignment with the Kingdom’s development goals," he added.
Partners in Sustainable Development
The partnership between ADFD and the Bahraini government highlights the strength of Gulf cooperation in achieving sustainable development goals.
The Fund’s financial and technical support boosts Bahrain’s ability to implement key national projects, creating jobs and improving services for citizens. This collaboration reflects the shared vision and strong ties between the two countries.
The ADFD-funded projects in Bahrain demonstrate the Fund’s commitment to supporting Bahrain’s growth, aligning with national priorities and contributing to economic development while preserving natural resources, said the statement.
The diversity of sectors addressed by the Fund highlights a deep understanding of Bahrain’s needs and priorities, it added.
Some of the prominent ADFD-funded projects in Bahrain include:
Housing Sector
Salman City Housing Project: An AED1.9 billion project, it aims to directly address citizens’ housing needs by constructing 2,400 units with modern infrastructure, promoting community stability and helping reduce the housing demand gap.
The first phase, opened in December this year, includes 1,382 housing units designed to meet contemporary requirements. The second phase will be completed according to the agreed plan.
East Sitra Land Reclamation Project: An AED914 million project, it reflects a vision to expand the residential area through land reclamation, with the goal of constructing 4,500 housing units.
Its completion is a positive step towards achieving development goals and providing new housing options for residents.
Health Sector
Mohammed Bin Khalifa Specialized Cardiac Center Project: An AED937 million project, it marks a significant improvement in health services by offering specialized heart disease care, reducing the need for treatment abroad. It strengthens the country’s health sector by providing advanced services that meet societal needs.
Transport Sector
Bahrain International Airport Development: An AED3.7 billion project, it strengthens Bahrain’s position as a regional air transport hub by increasing capacity to 14 million passengers annually, supporting the growing travel and tourism sector, and sustainably boosting the national economy.-TradeArabia News Service
