Media ININ Economy We Trust
Media IN ABU DHABI, 3rd July, 2019 (WAM
Abu Dhabi Fund for Development (ADFD), the leading national entity for international economic development aid, has signed two agreements with the Government of Mali.
These include an AED918 million (US$250 million) concessionary loan to support the balance of payments in the country as well as an additional concessionary loan of AED110 million (US$30million) to finance the implementation of phase two of Mali’s National Social Housing Programme.
Designed to improve liquidity and stimulate economic growth, the balance of payments support will also help in driving the Malian government’s socio-economic development goals.
In April 2018, ADFD extended AED110 million (US$30 million) for phase one of the same national housing project.
In a bid to meet the surging housing demand in Mali and improve the overall standard of living and well-being of the Malian people, the social housing programme aims to modernise civil and housing services in the country as part of the government’s efforts to achieve sustainable development.
The Director General of ADFD and Malian Prime Minister and Minister of Economy and Finance, signed the loan agreements in a ceremony held at the ADFD headquarters in Abu Dhabi. The Malian Ambassador to the UAE, and various senior representatives from the two sides attended the signing ceremony.
UAE and Mali have continued to enjoy strong and long-standing bilateral relations. Spanning more than four decades of joint and constructive cooperation, the strategic ties between ADFD and Mali have helped achieve sustainable economic development in the West African nation.
ADFD’s additional loan to Mali will directly contribute to achieving Goal 11 – Sustainable Cities and Communities – that aims to ‘make cities and human settlements inclusive, safe, resilient and sustainable’.”
