Abu Dhabi Fund eager to take Guyana partnership to new heights

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The Abu Dhabi Fund for Development (ADFD), which manages billions in assets for the oil-rich UAE government, is keen to ramp up investments in Guyana, the head of the agency has said after meeting President Irfaan Ali.

“Abu Dhabi Fund for Development enjoys strong strategic relations with Guyana. We are already engaged in developmental work in the country.

“The visit of Dr. Irfaan Ali reflects the eagerness on both sides to take the developmental partnership to new heights,” said Mohammed Saif Al Suwaidi, the Director-General of ADFD.

President Dr Irfaan Ali interacts with the Prime Minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum in Dubai (Photo: March 24, 2022)

President Ali met with Al Suwaidi and senior officials from ADFD in Abu Dhabi where he is holding key meetings. The two sides discussed the strategic relations and future opportunities that serve mutual interests.

ADFD’s mission, according to its website, is to help developing countries achieve sustainable economic growth and reduce poverty. To do so, it provide concessionary financial resources in the form of sovereign loans that satisfy the concessional conditions in accordance with the requirements of the Organisation for Economic Co-operation and Development (OECD).

Al Suwaidi expressed his gratitude to President Irfaan Ali for the visit, saying it would go a long way in strengthening the ties through a more robust economic and investment cooperation.

He pledged ADFD’s full support for Guyana’s developmental aspirations and efforts to achieve its sustainable goals.

Praising the UAE leadership over the country’s extraordinary development, President Ali said that the strong bilateral relations, as well as cooperation with ADFD, would enable Guyana to achieve his nation’s vision of prosperity.

“We see the UAE not only as a strategic trade and investment partner but also as a global model of sustainable development, state-of-the-art technology, infrastructure and governance. A stronger strategic partnership with Abu Dhabi Fund would greatly facilitate our own developmental ambitions,” he said.

The President emphasised that the UAE has shown the world how to build a well-diversified economy with a robust infrastructure.

“That is exactly what we want to achieve in Guyana through our partnership with ADFD and key stakeholders in the UAE,” he said.

President Ali explained that Guyana is already working closely with ADFD on infrastructure projects, including clean energy, and that a stronger collaboration would accelerate the country’s economic transformation and climate efforts.

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