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Abu Dhabi Fund offers AED 37 mn to fund road project in Kenya |
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Within the initiatives aimed to supporting the infrastructure projects in many developing countries, Abu Dhabi Fund for Development (ADFD) has signed AED 37 million loan agreement to finance Nuno - Modogashe road project in Republic of Kenya. The aim of this vital project is to facilitate the movement of transport in the Republic of Kenya by linking the city of Garissa with Modogache city. The project consists of constructing of approximately 135 Km as single carriageway road, and considers as part of the regional road which will link the south of the republic with its north. Moreover, the road will play a major role in future as it will connect with the neighboring countries at the north, such as, Ethiopia and Somalia. The loan agreement was signed by Mohammed Saif Al Suwaidi, Acting Director General of ADFD and Mohamed Gillo, Kenya’s Ambassador to United Arab Emirates on behalf of Kenya’s Government. Commenting on the signing, Al Suwaidi stated: "This agreement is coming in order to assist Republic of Kenya in its economic growth by providing them with necessary funding to implement developing projects. Mr. Al Suwaidi stressed: "The signing of this agreement will allow empowering the country through creating sophisticated, modern roadway, which will facilitate the smooth movement of the population of different regions. In addition, this project will support the activation of trade activity and merchandise exchange within Kenya, elevating the living standards of the local population and accelerating social and economic progress that the government of Kenya is looking to achieve." Al Suwaidi added "that the aim behind constructing Nuno - Modogashe road is to facilitate the process of movement between the Kenyan cities, which will enhance the performance of the economic movement internally, which will reflect positively in supporting the trade exchange movement between the Republic of Kenya and its neighboring countries." Mohamed Gillo acknowledged the keen of the Abu Dhabi Government in supporting vital projects in Kenya which aims to promote development in various sectors through supporting of development projects and sustainable development all the way through Abu Dhabi Fund for Development. The Fund’s relationship with the Republic of Kenya is not newly created, as the ADFD began to support development projects in Kenya since 1985, where the fund contributed in financing 2 development projects with total value estimated at 22 million Dirham, which is distributed between a grant and loan, and oversaw the management of grant funded by the Government of Abu Dhabi, totaling about 10 million Dirham, which reflects the commitment of the Government of Abu Dhabi and its keen to promote the sustainable development process in various vital sectors in the Republic of Kenya.
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