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ABU DHABI / WAM
Abu Dhabi Fund for Development
(ADFD), financed seven development projects in Bangladesh with a total project outlay of nearly half a billion dirhams over the past four decades, with the majority of these projects serving strategically important sectors including industry, energy and infrastructure.
Energy and irrigation projects account for about 65% of the total development assistance provided by ADFD to Bangladesh, supporting the government’s efforts to boost the industrial sector in line with the economic diversification strategy, which has seen the country grow by over 6% in each of the last ten years alone, pursued by the South Asian developing nation.
Mohammed Saif Al Suwaidi, ADFD’s Director-General, said, “ADFD’s development engagement with Bangladesh dates back to 1976 and we enjoy close ties with Bangladesh, with both of our countries having been founded in the same year. Since then, Bangladesh has remained one of the top beneficiaries of our concessionary loans and grant programs.â€