Abu Dhabi Approves $4.3bn Development Spending

Abu Dhabi’s government on Wednesday approved Dhs15.8 billion ($4.3 billion) worth of spending on infrastructure and social welfare projects, an official statement said.

The wealthiest emirate in the United Arab Emirates is investing billions of dollars in industry, tourism and infrastructure to diversify its economy away from oil. Since the 2011 uprisings in the Arab world, it has also boosted spending on housing and social services for its citizens.

Among the latest spending allocations are Dhs7.4 billion to develop roads linking the city of Abu Dhabi with Saudi Arabia and Dubai. A total of Dhs4.3 billion will go towards building a hospital in the city of Al Ain.

Other allocations are to develop the emirate’s electricity grid and waste water treatment facilities, and Dhs3.1 billion to provide housing loans to 1,554 local citizens.