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UAE sets $4.4bn for infrastructure projects

Abu Dhabi, March 22, 2008

UAE president Sheikh Khalifa bin Zayed Al Nahyan has ordered the allocation of Dh16 billion ($4.4 billion) for infrastructure projects in Northern emirates in a move to boost economic growth and prosperity, the official news agency Wam said.

The amount will be used to fund the construction of roads networks, new housing communities, drainage network and other projects which are deemed as necessary for sustainable economic growth, said Sheikh Hamdan bin Mubarak Al Nahyan, minister of public works.

Earlier, Sheikh Hamdan had received directives from Shiekh Khalifa to conduct a study on the needs of the northern emirates in terms of infrastructure projects that could be funded by the Federal Government.

'We undertook a comprehensive study and we have now come up with integrated solutions to existing problems in these areas. With this allocation, the quality of our people in some outlying areas will be significantly improved', he added.




Tags: UAE | fund | Infrastructure | Projects | allocate |

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