Khalifa orders offering of US$10 million to Djibouti |
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Abu Dhabi, Aug. 20th, 2008 (WAM)--President HH Sheikh Khalifa bin Zayed Al Nahyan, has issued instructions to offer US$10 million to Djibouti, as a support to its foreign balance of payment.
Khalifa's gesture reflects brotherly ties, solidarity and assistance to the government of Djibouti to meet its obligations in regard to commodity imports and other necessary items. Djibouti Ambassador to UAE Idriss Ahmed Chirwa, hailed the initiative of Sheikh Khalifa, adding that "such gesture is expected from Sheikh Khalifa, who is always well ahead when it comes to the Arab solidarity. This initiative strengthens brotherly relations between the two countries". He noted that the UAE and Djibouti enjoy distinguished trade relations, adding that the imports from the UAE stood at US$400 million last year. Meanwhile, the UAE investments in the horn of Africa country of Djibouti, in housing, ports and tourism touched US$1 billion in the same period last year. The Abu Dhabi Fund for Development executes a number of developmental projects in Djibouti in line with its efforts to assist the Arab and developing countries.© Copyright Emirates News Agency (WAM) 2008.
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