The Abu Dhabi Fund for Development (ADFD) is keeping an eye on the projects it had financed in various economies.
Mohammed Saif Al Suwaidi, Director-General of the ADFD, told the media, “Despite many challenges posed by the COVID-19 pandemic, the Abu Dhabi Development Fund has taken all necessary measures to ensure continuity and timely implementation of various projects in beneficiary countries. This is the time when our partner nations need our support the most. We need to live up to their expectations as well as our promises. Moreover, these projects are crucial for supporting the economies in these countries at a challenging time. Over the past months, the Fund had launched various initiatives to ease financial burdens of the governments of the beneficiary countries by the pandemic.”
The technical team of ADFB has inspected projects in countries such as Colombia, Togo, Guinea, Cuba, Antigua and Barbuda, Argentina, the Grenadines and St Vincent. It is reported that the projects are implemented in accordance to the schedule.
It is reported that ADFDB has funded projects such as the Solar PV Project in Cuba, the hybrid energy project in Antigua and Barbuda, the Hydropower and water supply project in Argentina followed by the geothermal power plant, St Vincent Solar Project, the 30MW solar plant in Togo and the electricity distribution and community development projects in Guinea.
The ADFD in 2012 said that it will defer the monthly instalments on any outstanding dues of countries, that availed of its concessionary credit facility.