DAR ES SALAAM : Abu Dhabi Fund for Development (ADFD) has participated in the opening ceremony of Kidaho – Ovinza road project in Tanzania held in the presence of His Excellency Jakaya Mrisho Kikwete, President of the Federal Republic of Tanzania, His Excellency Abdullah Ibrahim Al Suwaidi, the UAE Ambassador to Tanzania and His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD.
The 51 km long road project was funded by ADFD through the allocation of an AED170 million (US$46.12 million) concessionary loan.
The project aims to serve as a vital link between Kidaho, Ovinza and other cities located between them and facilitate easy movement of people and merchandise with the neighboring countries, boosting the overall economic activity within Tanzania.
Attending the ceremony, His Excellency Mohammed Saif Al Suwaidi, Director General, Abu Dhabi Fund for Development, stressed the UAE’s keenness, under the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, to promote excellent bilateral relations with friendly African countries and eventually achieve the mutual interests for both sides.
Al Suwaidi said: “ADFD enjoys outstanding relations with the Federal Republic of Tanzania and we have administered the provision of concessionary loans and management of government grants to the tune of AED233 million (US$64 million) in Tanzania. This fund was allocated towards the financing of 4 development projects across vital economic sectors including industry, transport and water.”
“The projects funded by ADFD in Tanzania have contributed to the sustainable development of the country through supporting Tanzanian government’s efforts and aspirations to accelerate economic and social development,” he added.
Kidaho, Ovinza road project is part of the proposed 604-kilometer highway that connects the eastern and western regions of the Federal Republic of Tanzania.
The 51.1 km long and 6.5 meters wide single track gravel road was constructed to connect Ovinza and Olende cities up to Kalgrasse with a 1.5 meter shoulder in each direction. The project also includes a number of small bridges to facilitate the passage of water from the valleys along with traffic signs and instructions.
ADFD’s engagement in the development of Tanzania dates back to 1977 and the country was one of the first countries to receive development assistance from the Fund. Since then, ADFD has contributed to financing important development projects that support Tanzanian government’s efforts to accelerate economic and social development, while addressing various developmental challenges facing the country.
Established in 1971, Abu Dhabi Fund for Development (ADFD) is an independent national entity affiliated to the Abu Dhabi Government. To help developing countries achieve sustainable development, the Fund offers concessionary loans, manages government grants through the direct supervision of such aid in project implementation and makes long-term investments and direct contributions.
Since its inception, ADFD has overseen the provision and management of AED65 billion towards financing 442 development projects in 76 countries around the world.