Abu Dhabi to offer Dh2.4b grant to Yemen

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Shaikh Abdullah bin Zayed Al Nahyan, UAE Foreign Minister and Vice Chairman of Abu Dhabi Fund for Development, and his Yemeni counterpart Abu Bakr Al Karbi signed a memorandum of understanding (MoU) on the development grant in Abu Dhabi on Wednesday.

The MoU covers the financing of 14 vital projects in different regions of Yemen. ADFD will solely manage 12 projects and will cooperate with the UAE Ministry of Interior to execute a smart card project. The UAE Red Crescent will manage the reconstruction project of buildings damaged as a result of floods in the Hadramout Valley.

Commenting on the initiative, Shaikh Abdullah said, “The grant reflects our commitment to the sustainable development of Yemen, in line with our outlook of driving growth, both at the regional and global levels. The support contributes to ensuring the long-run stability of the diverse communities in the region, which is interlinked to socio-economic prosperity.”

He highlighted the UAE’s strong and deep-rooted ties with Yemen at several levels, and stressed on improving these relations for mutual benefit. He said ADFD had played a pivotal role in driving sustainable development in Yemen, as well as in 53 countries since the organisation was founded in 1971 for the larger support of developing countries around the world.

Al Karbi reaffirmed the strength of Yemen’s relations with the UAE. He thanked the Emirati Leadership for launching several developmental initiatives in his country, which have provided a solid platform for energising the local economy by driving core sectors such as healthcare, education, housing, energy and infrastructure, among others.

 

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