Abu Dhabi funds $408m worth of projects in Pakistan
ADFD has awarded a total of $408.4m (AED1.5bn) in grants and concessionary loans to Pakistan on behalf of the Abu Dhabi government
Abu Dhabi Fund for Development (ADFD) has awarded a total of $408.4m (AED1.5bn) in grants and concessionary loans to Pakistan, it has been revealed.
Emirates news agency, WAM, reported that the amount has been used for nine sustainable development projects and was awarded by ADFD on behalf of the Abu Dhabi government.
The nine projects spanned a number of different sectors, including transport, water and agriculture, healthcare, and education.
Citing an ADFD country report issued to mark Pakistan’s Independence Day, WAM noted that the nine projects have helped boost the country’s socio-economic conditions.
Mohammed Saif Al Suwaidi, director-general of ADFD, commented: “ADFD’s role in financing these sustainable development projects across Pakistan underscores the fraternal relations and strong bilateral ties that the UAE and Pakistan share.
"At ADFD, we believe in assisting beneficiary governments in achieving their economic, sustainable and development schemes and goals. We are pleased that our support to the Pakistani government has elevated living standards and boosted strategic growth in that country."
One of the infrastructure projects that ADFD has supported in Pakistan’s transport sector is the UAE-Pakistani Friendship Road, the construction of which was funded using a $61.9m (AED227m) grant from the Abu Dhabi government.
ADFD has also supported two hospital projects in Pakistan, namely the refurbishment of Sheikh Zayed Hospital in Lahore in 2006, and the construction of Emirates Hospital in 2013, according to WAM.
In the education sector, ADFD reportedly allocated $1.9m (AED7m) in 2009 for the expansion of Sheikh Zayed International Academy.