| 18 Nov 2009 |
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ADFD provides AED 62.44 million for agricultural development in Morocco
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Abu Dhabi, Nov 18th, 2009 (WAM) -- Abu Dhabi Fund for DevelopmentAbu Dhabi Fund for Development
(ADFDADFD) has signed an agreement to provide AED 62.44 million (US$ 17 million) to build a Dam in Tamkeet in Rashidia, Morocco, that will support the region’s agriculture.The loan agreement was signed by HE Mohammed Saif Al Suwaidi, Acting Director General of ADFDADFD and HE Abd Al Qader Alzawi Morocco’s Ambassador to UAE, at ADFDADFD’s offices in Abu Dhabi.Al Suwaidi said: "This agreement comes in line with our commitment to implement the directives of UAE President HH Sheikh Khalifa bin Zayed Al Nahyan and HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, under the supervision of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs and Chairman of the Abu Dhabi Fund for DevelopmentAbu Dhabi Fund for Development, to assist developing countries and help boost economic development.""The Dam in Tamkeet is vital as it will contribute to support the country's economy by providing water to irrigate the territory of Rashidia in Morocco. This project also seeks to provide safe drinking water and protect the area from floods. The 14 million cubic meters dam will serve as a huge reservoir of water for Morocco," he added.HE Alzawi expressed his appreciation for the support provided by the Abu Dhabi government and ADFDADFD in executing developmental projects in Morocco, which had a significant impact on the economic growth of the country.ADFDADFD has contributed to financing 27 developmental projects in the past years with a total value estimated at AED 2 billion.© Copyright Emirates News Agency (WAM) 2009.
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