Search DubaiPRNetwork.com

Home >> Government, Legal & Humanity

Abu Dhabi Fund for Development Attends Inauguration of Two Projects in Albania Worth AED240 Million

Monday, May 7, 2018/ Editor -  

Share

Home >> Government, Legal & Humanity

Tirana River Rehabilitation and Tirana Northern Boulevard projects directly benefit Albanian society, support development of key economic sectors

Abu Dhabi, United Arab Emirates, 7 May 2018:  A delegation from Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, participated in the official inauguration of two of its funded projects in the Albanian capital Tirana, worth AED240 million. 

Adel Al Hosani, Director of the Operations Department at ADFD, led the delegation representing the Fund.

The event also drew the participation of His Excellency Edi Rama, the Albanian Prime Minister, His Excellency Erion Veliaj, Mayor of Tirana, and several ministers and senior Albanian officials. 

Speaking on the occasion, His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, said: “Since 2013, ADFD’s strategic relations with the Albanian government have gone from strength to strength, with the Fund financing three strategic projects in Albania valued at AED424 million.

With the official inauguration of two ADFD-funded projects – Tirana River Rehabilitation and Tirana Northern Boulevard, we mark an important milestone in supporting Albania in achieving its development priorities.”

He added: “These projects have directly benefited large segments of the population through creating job opportunities and stimulating various economic sectors.”

In 2013, ADFD allocated an AED103 million concessionary loan for the Tirana River Rehabilitation project to revitalise the bed of the Tirana River, its shores and the surrounding areas.

In the same year, the Fund extended an AED137 million concessionary loan to finance the Tirana Northern Boulevard project. Works included a two-storey underground car park with 333 parking spaces, equipped with an electric vehicle charging station.

The project focused on developing the infrastructure surrounding Tirana’s Northern Boulevard with the aim of attracting investments, tourists and trade.
For his part, His Excellency Erion Veliaj praised the UAE’s global development endeavours and ADFD’s achievements in financing projects that support socio-economic development in developing countries.

Furthermore, he highlighted the committed efforts of the Fund, its continuous follow-up, and dedication to the timely execution of the projects in Tirana. 

Since its inception in 1971, ADFD has financed development projects to the tune of about AED80 billion in 88 countries around the world through concessionary loans and Abu Dhabi government grants.

 


Previous in Government, Legal & Humanity

Next in Government, Legal & Humanity


Home >> Government, Legal & Humanity Section

Latest Press Release

Michael Michael Kors Spring 2019: Middle East Edit

Union Cooperative supports UAE agriculture with AED 79 Million

Meet HP Tango! The Home Printer Reinvented

Philippines consulate general visits Danube Home

Top Tips on choosing the perfect Coffee Table

Over 1,700 projects worth USD 1 trillion fall under China's ambitious One Belt, ...

Mobile Malaria Project Embarks on Journey of Discovery

IKEA survey reveals that although the bedroom is the most essential room in hous ...

Volvo Cars celebrates 60 years of sharing safety knowledge with open-for-all dig ...

Malabar Gold & Diamonds actively participated in UAE National Sports Day conduct ...

Etisalat AGM approves Full-year 2018 dividends of 80 fils per share

Dubai WoodShow attracts more than 7300 visitors, USD 70 million in business deal ...

Step up your make-up game for Spring/Summer '19 with Lottie London

This Weekend Sees Abu Dhabi Host Week 13 of Show Jumping Competitions

Schneider Electric Partners with Vericlave to Strengthen Customers' Cyber Postur ...

IKEA X TOM DIXON X YOU

Top Chefs recognized by American Egg Board at ExpoCulinaire

Oman Insurance Company wins Medical Insurance Company of the Year at 2019 Annual ...

Emirates Post invites young people to enter international letter writing competi ...

UAE Team Emirates Opts for Power as Gaviria and Kristoff Top Line-up for Milan-S ...