Abu Dhabi fund signs deal loan with Swaziland
Abu Dhabi Fund for Development (ADFD) has extended Dh36.73 million ($10m) as a concessionary loan to the Government of Swaziland aiming to support the kingdom’s economic and social development through the development of roads and improvement of surface transportation network.
As a starting point, the funding will finance phase 1 of the Manzini - Mbadlana road development. The project includes the reconstruction and upgrading of a 30-kilometer highway consisting of two lanes in each direction, including civil works, earth works and pavement, as well as intersection lighting works and provision of road safety equipment.
An agreement was signed between both countries at ADFD headquarters in Abu Dhabi that was attended by Mohammed Saif Al Suwaidi, Director General of ADFD, and Martin Gobizandla Dlamini, Minister of Finance in Swaziland.
Al Suwaidi said: "This agreement articulates our priority to support vital economic sectors in developing countries, especially the roads and transport sector that serves as a catalyst for spurring economic growth and bridging the widening gap between urban centers and remote villages. Most developing countries suffer from inefficient infrastructure due to lack of financial resources, which cripples economic growth. ADFD therefore pays particular attention to infrastructure projects to achieve inclusive development in the beneficiary nations."
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