Media ININ Economy We Trust
Media in\ Abu Dhabi 28-04-2019 / WAM
Abu Dhabi Fund for Development financed 82 development projects in the Kingdom of Morocco with a total value of 9 billion dirhams. These funds contributed to the support and development of major sectors, including ports, roads, transportation, social development, education services, health care and housing.
The Abu Dhabi Fund for Development (ADFD) is associated with the Kingdom of Morocco with a strategic partnership that began in 1976 and has been characterized by constructive cooperation to achieve sustainable development goals in all sectors of the economy.
In the following report, WAM is monitoring the most important strategic projects that the Fund has been working on in partnership with the Moroccan government, including the Tangier Mediterranean port project, the Mediterranean track and the high-speed rail, the construction of the railway station in Casablanca and the construction of thousands of housing units in several cities of morocco.
In addition, the Fund invests in selected companies in Morocco, the most important of which are Maroc Telecom, Dalma Tourism Investments, Nakheel Morocco, Maroc Cement and Rabab, which operate in vital sectors and enjoy good growth prospects. In addition to employing a large number of Moroccan citizens.
In this regard, the Director General of the Abu Dhabi Fund for Development (ADFD) said in a statement to the Emirates News Agency (WAM) the depth of the historical ties between the UAE and the Kingdom of Morocco, which was reinforced by His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE;
“Abu Dhabi Fund for Development has strategic relations with the Kingdom of Morocco, which started more than three decades ago. We are working together to achieve sustainable development goals in all economic sectors,” he said, pointing out that the Fund has financed several vital projects that have been positively reflected on various economic aspects. And contributed to the achievement of the goals and aspirations of the Moroccan government and support its plans and development programs that benefit the members of the community. “
The Abu Dhabi Fund for Development (ADFD) is pursuing the implementation of the projects funded by the UAE contributing to the grant approved by the Gulf Arab States in 2012 amounting to 4.6 billion dirhams. The Fund achieved advanced completion rates in several projects funded under the grant to complete the remaining projects.
The Abu Dhabi Fund for Development financed 15 strategic projects in the housing sector in several Moroccan cities with a total value of more than AED 1 billion. The project included the construction of thousands of residential units in integrated projects in several Moroccan cities.
The fund also financed the construction of a high-speed rail linking the cities of Tangier and Casablanca with a value of AED 514 million. The project was inaugurated in November 2018. The railway project contributed to a qualitative leap in transport and communications in Morocco, Which helped lift the pace of economic growth in the region and boosted tourism and business traffic.
