ADFD allots US$45 million grant to Colombia

Abu Dhabi Fund for Development, ADFD, has extended an Abu Dhabi government grant worth US$45 million (AED165 million) to Colombia.

Aimed at underpinning social development, the grant will assist in establishing a network of education and health centres, in addition to launching a programme to support small and medium enterprises, SMEs.

Mohammed Saif Al Suwaidi, Director-General of ADFD, and Sergio Londono Zurek, Director-General of the Presidential Agency for International Cooperation of Colombia, APC-Colombia, signed a Memorandum of Understanding outlining the terms of the funding at ADFD’s headquarters in Abu Dhabi. Senior management and representatives of the two entities were present at the signing.

Speaking on the occasion, Al Suwaidi said, "ADFD is proud to facilitate this latest development grant that is a clear example of the Abu Dhabi government’s keenness in strengthening bilateral relations and enhancing cooperation with countries on the South American continent, particularly Colombia."

He added, "Divided among several provinces, the funding seeks to provide the best education and health services to the segments of society that need them most. In line with the Colombian government’s development goals, the grant will help elevate standards of living across the country and achieve lasting socio-economic growth."

Mr. Zurek praised the UAE government’s tireless efforts to boost the prosperity of developing nations through sustainable and impactful development funding. In addition, he expressed his sincere gratitude to ADFD for supporting Colombia in the pursuit of its national growth objectives in the post-conflict era.

Since its inception in 1971, ADFD has continued to expand its geographic reach to developing countries across all regions. Most recently ADFD has financed development projects in Argentina, Cuba, and Ecuador as well as funded renewable energy ventures in the Caribbean Small Island Developing States.