Abu Dhabi Fund for Development finances 16 projects worth Dh3 billion in Egypt

Abu Dhabi, May 8, 2011 (WAM) - Abu Dhabi Government through Abu Dhabi Fund for Development (ADFD) had provided loans and grants to finance 16 development projects in Egypt at cost Dh3.149 billion. Since its inception in 1974, the ADFD has been helping Egypt through implementation of a number of socio-economic projects. It funded 11 projects through easy loans and grants at cost AED2.24 billion. The projects included housing, agriculture, irrigation and social development. The ADFD also provided eight loans worth AED929. 68 million and four grants worth Dh311.74 million. It also administered three grants provided by the Abu Dhabi government worth Dh2.763 billion, and one grant worth Dh145, 400. - Emirates News Agency, WAM