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Abu Dhabi Fund for Development allocates AED67 million to Yemen

Abu Dhabi Fund for Development allocates AED67 million to Yemen

Abu Dhabi Fund for Development (ADFD) and the Emirates Red Crescent (ERC) signed a MoU to manage the AED67million (US$18.3 million) UAE government grant aimed to support the healthcare sector in Hadhramaut Governorate in Yemen.

 

The grant aims to support three healthcare projects in Yemen’s Hadhramaut Governorate including rehabilitating hospitals, reconstructing the Maternity and Child Hospital, as well as purchasing medicines and medical equipment.

Aimed at providing quality medical attention to Hadhramaut’s population, the hospital rehabilitation project will overhaul and equip seven hospitals in the region. Encompassing maintenance, construction and electrical works, the second project will revamp the Maternity and Child Hospital through boosting its capacity with 150 additional beds, as well as through the provision of necessary medical supplies and equipment. As part of the third project, ADFD will purchase supplies of essential medicine for the Governorate.

 

ADFD to support sustainable development in Ethiopia

Abu Dhabi Fund for Development (ADFD) allocated an AED11 billion (US$3 billion) economic aid package to the Ethiopian government to support sustainable socio-economic development in that country.

The purpose of the funding is twofold. ADFD deposited an amount of AED3.7 billion (US$1 billion) in the National Bank of Ethiopia to bolster the country’s fiscal and monetary policy, as well as to enhance the liquidity and foreign exchange reserves of its central bank. The remaining AED7.3 billion (US$2 billion) seeks to stimulate the Ethiopian economy and encourage joint investments.

His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, and His Excellency Teklewold Atnafu, Governor of the National Bank of Ethiopia, signed a memorandum of understanding (MoU) outlining the terms of the funding in Addis Ababa, the capital of Ethiopia. The signing ceremony was held on the side-lines of His Highness Sheikh Mohammed bin Zayed Al Nahyan’s, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, official visit to Ethiopia. Government officials and senior representatives of the two entities also attended the signing ceremony.





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