Abu Dhabi Fund grants USD50m to Djibouti
18 Feb 2015
(MENAFN) Abu Dhabi Fund for Development (ADFD) is set to grant USD50 million for development projects’ support in the Republic of Djibouti, Emirates 247 reported.
After a memorandum of understanding (MoU) was signed between the two parties, ADFD Director General said his company seeks to leverage development aid as an effective tool to address various economic and social challenges in the region.
‘The UAE and the Republic of Djibouti enjoy strong and outstanding bilateral relationship at all levels. At ADFD, we are committed to boosting this synergy through supporting development projects,’ ADFD Director General added.