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Businesswire
Abu Dhabi Fund for Development Finances US$192 Million Sheikh Khalifa bin Zayed City in Afghanistan
April 24, 2018
His Excellency Mohammad Ashraf Ghani, President of Afghanistan, inaugurated the Abu Dhabi Fund for Development (ADFD) financed Sheikh Khalifa bin Zayed City Housing Complex in Afghanistan. Located in the Qasaba district of Afghanistan’s capital Kabul, ADFD contributed an estimated US$192 million to the social housing development project.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180423005711/en/
His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, during the official inauguration ceremony of the 3,330-residential unit Sheikh Khalifa bin Zayed City in Afghanistan (Photo: AETOSWire)
Aimed at increasing the supply of affordable accommodation options in the country, the crucial project encompasses 3,330 residential units. Including extensive infrastructure works such as roads, water, and electricity networks and support services, the project seeks to elevate living standards for its residents through its power stations that generate 22 megawatts of energy with minimal downtime.
Present at the event were His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, His Excellency Saif Al Shamsi, Charge d'affaires at the UAE Embassy in Afghanistan, His Excellency Sadat Mansoor Nader, Afghan Minister of Urban Development and Housing, and several high-ranking Afghan officials.
Al Suwaidi, said: “In line with the directive of the UAE leadership to support the Afghan government’s housing development goals, the construction was funded by the ADFD-managed Abu Dhabi government grant earmarked for Afghanistan. Not only will this crucial project provide adequate housing for thousands of Afghan citizens, it also will go a long way in bolstering the country's social housing sector.
ADFD is committed to supporting the Afghan government in overcoming the challenges facing Afghanistan, reaching the country’s desired development goals, and achieving long-term prosperity.”
Moreover, His Excellency Sadat Mansoor Nader praised the efforts of the UAE in implementing humanitarian and development programmes in Afghanistan. He noted that the 53.8-hectare project will provide housing options to suit the lifestyle of Afghan families.
Since it first commenced supporting development projects in Afghanistan in 1977, ADFD has allocated US$325 million towards the development of 14 projects that contributed to the economic and social development of the country.
ADFD is a national organisation owned by the Abu Dhabi government. Established in 1971, its purpose is to help emerging countries by providing concessionary loans to finance sustainable development projects alongside other long-term investments and direct contributions. ADFD manages Abu Dhabi government grants and monitors the course of the relevant projects. It has invested AED80 billion in development projects across 88 countries.
*Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20180423005711/en/
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Source: Businesswire
