(MENAFN- Mid-East Info) The Fund and Bahraini government mark 50 years of strategic collaboration.
Abu Dhabi, December, 2024 – The partnership between Abu Dhabi Fund for Development (ADFD) and the Government of Bahrain represents a model collaboration for sustainable development. Since 1974, this strategic relationship has supported Bahrain's economic vision and contributed to its comprehensive development goals.
To date, ADFD has financed 33 development projects in the country, totaling AED 23 billion. These initiatives span critical sectors such as housing, energy, transport and health, helping to meet financial needs and support Bahrain's fiscal balance program for 2023 and 2024, boosting the economy.
Impact of Projects:
The Fund continues with its development initiatives aligned with Bahrain's Economic Vision 2030, reinforcing strong ties between the two nations. The projects financed by ADFD have improved the quality of life, supported sustainable development goals, and helped the government meet the various needs of its citizens.
Prominent achievements:
His Excellency Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development, congratulated the Bahraini government, leadership, and people on the country's National Day, wishing the Kingdom continued prosperity.
“The strategic relationship with the government of Bahrain is a unique model of development cooperation that has endured for more than 50 years. This partnership has resulted in significant achievements in many economic sectors, contributing to achieving comprehensive development that benefits Bahraini society,” H.E. Al Suwaidi said.
He added that the Gulf Development Fund program for the Kingdom of Bahrain, which was approved in 2013, represented one of the most prominent aspects of this cooperation.“The program exemplifies the support the UAE provides on sustainable development through ADFD, strengthening infrastructure and vital sectors in alignment with the Kingdom's development goals,” he added.
Partners in Sustainable Development:
The partnership between ADFD and the Bahraini government highlights the strength of Gulf cooperation in achieving sustainable development goals. The Fund's financial and technical support boosts Bahrain's ability to implement key national projects, creating jobs and improving services for citizens. This collaboration reflects the shared vision and strong ties between the two countries.
Impact of Projects:
The ADFD-funded projects in Bahrain demonstrate the Fund's commitment to supporting Bahrain's growth, aligning with national priorities and contributing to economic development while preserving natural resources. The diversity of sectors addressed by the Fund highlights a deep understanding of Bahrain's needs and priorities.
Below are examples of prominent ADFD-funded projects in Bahrain:
Housing Sector:
Salman City Housing Project
Value: AED 1.9 billion
The project aims to directly address citizens' housing needs by constructing 2,400 units with modern infrastructure, promoting community stability and helping reduce the housing demand gap.
The first phase, opened in December this year, includes 1,382 housing units designed to meet contemporary requirements. The second phase will be completed according to the agreed plan.
East Sitra Land Reclamation Project
Value: AED 914 million.
The project reflects a vision to expand the residential area through land reclamation, with the goal of constructing 4,500 housing units. Its completion is a positive step towards achieving development goals and providing new housing options for residents.
Health Sector:
Mohammed Bin Khalifa Specialized Cardiac Center Project
Value: AED 937 million.
The center marks a significant improvement in health services by offering specialized heart disease care, reducing the need for treatment abroad. It strengthens the country's health sector by providing advanced services that meet societal needs.
Transport Sector:
Bahrain International Airport Development
Value: AED 3.7 billion.
The project strengthens Bahrain's position as a regional air transport hub by increasing capacity to 14 million passengers annually, supporting the growing travel and tourism sector, and sustainably boosting the national economy.
Sheikh Zayed Road Expansion
Value: AED 337 million:
This project addresses traffic congestion and enhances transport infrastructure, increasing road capacity to 50,000 vehicles per day, while improving public transport movement.
Water Sector:
Water Transmission Network Development
Value: AED 187 million.
This project improves water infrastructure by establishing two storage and pumping stations in key areas, ensuring sustainable water resources to meet growing demand in residential and industrial zones.
Infrastructure Sector:
Northern City Sewage Treatment
Value: AED 415 million.
This project focuses on sustainable environmental management by treating sewage water for agricultural irrigation, and balancing urban development with the protection of natural resources.
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