ID :
72567
Tue, 07/28/2009 - 15:28
Auther :
Shortlink :
https://oananews.org//node/72567
The shortlink copeid
Abu Dhabi finances Benin highway project
Abu Dhabi, July 28, 2009 (WAM) - The Abu Dhabi Fund for Development (ADFD) has signed a Dh36.7 million (US$10 million) loan agreement to develop a key 75-kilometre highway linking Benin with neighbouring countries according to a report in "Gulf News."
The agreement was signed by Mohammad Saif Al Suwaidi, Acting Director General of ADFD, and Eisa Mousa Torry, Benin's Ambassador to the UAE. The signing ceremony was held at ADFD's offices in Abu Dhabi.
Al Suwaidi said: "Empowering the Republic of Benin with a key, modern roadway will facilitate the smooth movement of individuals and vehicles between key cities, thus supporting the Government's plan to revitalise and expedite the social and economic progress."
"Besides being used for commute within the country, the highway links Benin with neighbouring countries such as Togo and Nigeria, bolstering the scope for business and commercial activities," he added.
Torry acknowledged the role of the Abu Dhabi Government in aiding the development drive being carried out in Benin, through various initiatives undertaken through ADFD.
ADFD is currently financing over 34 development projects in many developing countries. The concessionary loans ADFD provides to finance development projects cover a wide range of vital sectors, for example agriculture, transportation, industry, tourism and medical and social services.
The agreement was signed by Mohammad Saif Al Suwaidi, Acting Director General of ADFD, and Eisa Mousa Torry, Benin's Ambassador to the UAE. The signing ceremony was held at ADFD's offices in Abu Dhabi.
Al Suwaidi said: "Empowering the Republic of Benin with a key, modern roadway will facilitate the smooth movement of individuals and vehicles between key cities, thus supporting the Government's plan to revitalise and expedite the social and economic progress."
"Besides being used for commute within the country, the highway links Benin with neighbouring countries such as Togo and Nigeria, bolstering the scope for business and commercial activities," he added.
Torry acknowledged the role of the Abu Dhabi Government in aiding the development drive being carried out in Benin, through various initiatives undertaken through ADFD.
ADFD is currently financing over 34 development projects in many developing countries. The concessionary loans ADFD provides to finance development projects cover a wide range of vital sectors, for example agriculture, transportation, industry, tourism and medical and social services.
