Abu Dhabi Fund for Development finances 33 projects worth AED23 bn in Bahrain

Abu Dhabi [UAE], December 15 (ANI/WAM): The enduring partnership between the Abu Dhabi Fund for Development (ADFD) and the Kingdom of Bahrain stands as a testament to the strength of bilateral cooperation between the two sisterly nations and their shared commitment to sustainable development.
Since 1974, ADFD has been playing a significant role in supporting Bahrain's economic growth and social progress.
ADFD has substantially contributed to the development of infrastructure and sustainable development projects in Bahrain by financing 33 development projects worth up to AED23 billion. These projects covered key sectors such as housing, energy, transportation, and health, and helped meet financing needs and support the fiscal balance program for 2023 and 2024, thereby boosting the country's economic growth.
On the occasion of the National Day of the Kingdom of Bahrain, which falls on December 16 each year, Mohammed Saif Al Suwaidi, ADFD Director General, said the strategic partnership between ADFD and Bahrain has been instrumental in driving transformative development across various sectors.
ADFD's substantial financial support, coupled with its expertise in project development and management, has helped Bahrain to undertake ambitious projects that have had a profound impact on the nation's landscape, he noted.
"ADFD's portfolio of projects in Bahrain is diverse, encompassing critical sectors such as housing, energy, transportation, and healthcare. By investing in these areas, ADFD has directly contributed to improving the quality of life for Bahrain's citizens."
ADFD's key projects in Bahrain include: Salman City Housing Project: This project has provided affordable housing solutions for numerous families, addressing a critical need in the housing market.
East Sitra Development Project: This project has expanded Bahrain's land area, enabling the development of new residential and commercial zones.
Sheikh Zayed Road Expansion: This project has significantly improved connectivity and reduced traffic congestion, boosting economic activity.
The ADFD-Bahrain partnership serves as a model for regional cooperation, demonstrating the positive impact that collaborative efforts can have on sustainable development. By sharing knowledge, resources, and expertise, the two nations have been able to achieve remarkable results.
The enduring partnership between ADFD and Bahrain exemplifies the power of cooperation and the commitment to shared prosperity. By investing in critical infrastructure, promoting sustainable development, and improving the lives of Bahrain's citizens, ADFD has solidified its position as a trusted partner and a catalyst for positive change, Al Suwaidi said. (ANI/WAM)