ADFD, ADEX sign two loan agreements worth Dhs337.9m in Bahrain

Abu Dhabi Fund for Development (ADFD) and the Abu Dhabi Exports Office (ADEX) signed two loan agreements with the Electricity and Water Authority in Bahrain to finance a water supply network project.

According to state news agency WAM, under the agreements, a loan of Dhs150.6m will be provided by ADFD and Dhs187.32m by ADEX.

The project aims to enhance the capacity of the water transmission networks within the second phase of Al Dour station to 50 million gallons, to ensure reserves of at least three days’ consumption average to cater to the daily needs of the residents.

Apart from drinking water supply, the station will serve construction, investment and industrial projects, thereby supporting Bahrain’s Electricity and Water Authority’s water strategy until 2030, which aligns with the United Nations’ sustainable development goals.

ADFD, ADEX sign two loan agreements worth AED337.9 to finance water supply network project in #Bahrain#WamNews https://t.co/BfJNtrQLTV pic.twitter.com/vH2emfROTA

— WAM English (@WAMNEWS_ENG) July 14, 2022

Mohamed Saif Al Suwaidi, director general of Abu Dhabi Fund for Development and chairman of the Executive Committee of the Abu Dhabi Exports Office, said, “The project financed by ADFD will raise the efficiency of water supply, contribute to water security and enhance the sustainability of water resources. We are keen to support the development objectives of the Government of Bahrain and enable it to achieve water security and sustainability goals.”

Yasser bin Ibrahim Humaidan, Minister of Electricity and Water Affairs. said, “The two loan agreements will enable Bahrain to achieve a high-quality infrastructure that ensures the sustainability of water resources. This cooperation also enhances the efficiency of water supply networks and supports the integrated strategy for managing water resources.”

Bahrain is one of the first countries where ADFD began its development activity in 1974. The amount of soft loans and government grants provided to Bahrain is Dhs23.12bn, which covered 32 projects in vital sectors.

These projects contributed to the sustainable economic and social development of the kingdom. The fund also manages the Dhs9.2bn grant provided in 2013 by the UAE to Bahrain within the GCC Development Program.