Mohammed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development, ADFD, has welcomed a visiting high-level delegation from Malawi, led by Ralph Pachalo Jooma, Malawi’s Minister of Transport and Public Works, at the Fund’s headquarters in Abu Dhabi.
During the meeting, the two sides discussed strengthening synergies and explored joint efforts to further finance development projects and investment opportunities in Malawi.
Khalifa Al Qubaisi, Deputy Director General of ADFD, and several high-ranking officials from the two sides, also attended the meeting.
Speaking on the occasion, Al Suwaidi said, “The visit of the Malawian Minister of Transport and Public Works is an opportunity to consult and enhance future cooperation between the Fund and the Malawian government in financing priority infrastructure projects.”
He added, “ADFD has played a crucial role in advancing sustainable economic development across the continent. Our development activities in Africa have achieved impressive results and contributed to ongoing efforts to realise the United Nations’ Sustainable Development Goals, SDGs, elevate living standards, as well as bolster sustainable economic growth.”
For his part, Ralph Jooma praised the leading role played by the UAE and ADFD in driving development initiatives and growth across the world’s developing nations, highlighting ADFD’s sustained development support to Malawi. He also thanked the Fund for supporting ventures that help achieve Malawi’s national development goals.
Since its inception in 1971, ADFD has funded development projects in 94 countries, including 40 African nations, to the tune of AED102 billion through concessionary loans, government grants, and investments. The Fund’s total expenditure in Malawi amounts to an estimated AED38 million.
ADFD has also invested in eight companies and two private equity funds to boost a variety of sectors on the African continent.