- New projects provide steady supply of electricity to more than 12,000 homes and benefit 75,000 citizens
- ADFD has financed AED436 million in development projects in Comoros since 1979
Abu Dhabi – Major electricity projects valued at AED51 million (US$13.9 million) have been inaugurated by the government of the Comoros. Financed by Abu Dhabi Fund for Development, the UAE’s leading development financing institution driving sustainable development at home and abroad, these projects will supply electricity to more than 12,000 homes and are expected to stimulate the economy of the island nation.
His Excellency Azali Assoumani, President of the Comoros, attended the inauguration of the strategic projects with His Excellency Saeed Mohammed Murshid Al Maqbali, UAE’s Ambassador to the Comoros, and several Comorian government officials.
The Fund’s support of the initiatives included supply and installation of seven generators with total capacity of 12.5MW. Four of them with a capacity of 2MW each have been installed at the Moroni station on the main island, while Anjouan Island received three with 1.5MW capacity each. The projects, which also covered an extension of transmission and distribution lines on the various islands, was implemented by Al Mostajed Technologies, a UAE national company.
Speaking on the occasion, His Excellency Mohamed Saif Al Suwaidi, Director General of ADFD, said: “At Abu Dhabi Fund for Development we work to enhance our strategic relations with the government of the Comoros through cooperation so as to help the country achieve comprehensive and sustainable socio-economic development.”
HE Al Suwaidi said that the projects exemplify the strong relations between the UAE and the Comoros, as well the commitment of ADFD as a prime financial entity of the UAE to help the nation achieve its socio-economic goals through sustainable development initiatives.
ADFD has played a pivotal role in the development of vital economic sectors in the Comoros, including education, healthcare, water, aviation and energy.
His Excellency Hamidi Msidi - Minister of Economy, Energy and Tourism in Comoros, thanked the UAE and ADFD for their sustained support to development projects in the Comoros, underlining that the efforts had given the country’s infrastructure a much-needed boost, thereby greatly improving the level and quality of services provided to the people. “It is a matter of great satisfaction and delight for us that the project has benefited more 75,000 Comorians,” he said.
He added that these projects will also modernize power lines and transmission networks that will bring service reliability for all subscribers to the highest international standards. This modernization enables the network to meet all subscribers' needs, delivering electricity to more than 12,000 households on various islands. The projects also contribute to reducing the cost of electricity production and delivery for the general population and commercial sectors.
For his part, His Excellency Saeed Mohammed Murshid Al Maqbali, UAE’s Ambassador to the Comoros said: “The UAE and the United Republic of the Comoros enjoy strong relations which have seen great advancement in recent years thanks to directives of the wise leadership of the two countries.”
He pointed out that the UAE has contributed to supporting various development efforts in the United Republic of the Comoros in line with its mission to help brotherly and friendly developing countries achieve prosperity, stability and growth.
He added that the strong, positive relations between ADFD and the government of the Comoros dates to 1979. The total amount of concessionary loans provided by ADFD to the country stands at AED436 million to finance sectors such as electricity and water, renewable energy, transport, social services and healthcare.
In line with ADFD’s goal to support UAE companies and create investment opportunities in international markets, Al Mostajed Technologies was appointed to develop and execute these energy sector projects. The UAE-based company is also assisting in building and overseeing a knowledge transfer program to develop local capacity and expertise to manage ongoing operations and maintenance of the new facilities.
Since its inception in 1971, ADFD has funded development projects in 97 countries, including 39 African nations, with a total value greater than AED150 billion through concessionary loans, government grants and investments. The Fund’s total expenditure in Africa amounts to an estimated AED30 billion. ADFD has also invested in seven companies and two private equity funds to boost a variety of sectors on the African continent.
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About Abu Dhabi Fund for Development (ADFD)
Abu Dhabi Fund for Development (ADFD) is a leading national entity for economic development aid owned by the Abu Dhabi government. Established in 1971, it aims to help emerging countries by providing concessionary loans to finance sustainable development projects as well as administering long-term investments and direct contributions. In addition to managing development grants offered by the Abu Dhabi government, ADFD has adopted a policy of supporting the national economy and financing UAE private sector investments. Since its inception, ADFD has marked developmental milestones in more than 97 developing countries. Spanning the last 50 years, the Fund's development projects and investments, valued at AED150 billion, have helped the international community achieve sustainable economic growth as well as drive the implementation of the United Nations’ Sustainable Development Goals (SDGs).
© Press Release 2021
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