Guinea delegation in ADFD to discuss expansion of economic cooperation

Guinea delegation in ADFD to discuss expansion of economic cooperation

ABU DHABI, 17th February, 2022 – Mohamed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development (ADFD), received a delegation from Guinea-Conakry, headed by Ousmane Domboya, Adviser to the President.

The discussion focused on expanding the economic cooperation.

The meeting was attended by Khalifa Abdullah Al Qubaisi, Deputy Director General of ADFD; and other officials from both sides.

Extending a cordial welcome to the delegates, Al Suwaidi reflected on the depth of the strategic relations between the UAE and Guinea-Conakry.

He said that the visit was an opportunity to take the ties to the next level and explore ways to enhance contributions to the country’s sustainable economic development.

Domboya expressed his appreciation for the UAE leadership and ADFD for their continued support to his country to implement projects in priority sectors, as he highlighted ADFD’s role in supporting economic advancement of developing countries.

“We look forward to strengthening economic cooperation with ADFD and discussing opportunities for investment in vital sectors that would help us accelerate our economy,” he said.

Abu Dhabi Fund for Development started its initiatives in Guinea in 1977, financing projects worth about AED441 million.

Over the years, it provided a steady support to the country’s government in advancing the development process in various fields such as energy and social development.

Some of the crucial projects financed by ADFD in Guinea include the financing of the Tambo 1 and Tambo 2 power plants with a total capacity of 60 megawatts, and the establishment of the National Electricity Distribution Centre in Conakry, which contributes to raising the efficiency of power distribution in rural areas and supporting economic and social activities there.

ADFD also signed an AED95.

5 million agreement with the Guinean government to fund the construction of major roads and intersections in Conakry.

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