Abu Dhabi Fund for Development said its technical team is remotely inspecting the projects it had financed in many partner countries. 

 

The move is part of the Fund’s effort to ensure continuity, timely progression or completion of all development activities it had undertaken in beneficiary countries, regardless of the challenges posed by the Coronavirus pandemic.

 

The team inspected these projects in Cuba, Antigua and Barbuda, Argentina, St Vincent, the Grenadines, Colombia, Togo and Guinea. It said that all the projects were being implemented as per schedule.

 

"Despite many challenges posed by the Covid-19 pandemic, Abu Dhabi Development Fund has taken all necessary measures to ensure continuity and timely implementation of various projects in beneficiary countries," said Mohammed Saif Al Suwaidi, Director General of ADFD.

 

"This is the time when our partner nations need our support the most. We need to live up to their expectations as well as our promises. Moreover, these projects are crucial for supporting the economies in these countries at a challenging time," he stated.

 

Al Suwaidi said that the Fund had discussed with stakeholders in the beneficiary countries about the hurdles in project implementation and effective ways to address the challenges so that they could continue to achieve economic growth in a sustainable manner.

 

Over the past months, the fund had launched various initiatives to ease financial burdens thrust upon the governments of the beneficiary countries by the Coved-19 pandemic and provide support to the affected strategic sectors. The key projects in parter countries are:

 

*Solar PV Project, Cuba

 

The ADFD team inspected the solar PV project in Cuba, whose production capacity was raised to 15 MW from 10 MW in order to meet the growing demand. The AED55 million project includes the construction of four power plants in four provinces.

 

*Hybrid Energy Project, Antigua and Barbuda

 

The innovative hybrid solar- and wind-power project in the Caribbean state is 70 per cent complete. Once operational, the AED 55 million initiative will produce 4MW electricity and directly contribute to the country’s goal of generating 20 per cent energy from renewable resources so as to mitigate the impacts of climate change.

 

The project will power water desalination plants that supply potable water to about 90,000 individuals.

 

*Hydropower and water supply projects, Argentina

The team inspected progression of the Nahueve hydroelectric project and Desvio Arijon water treatment project being carried out in the South American nation. The hydropower project is 45% complete, while the latter is more than halfway through.

 

The AED 55 million Nahueve project will give 54,000 people in the northern province of Neuquen access to electricity, annually offset carbon dioxide emissions by 23,000 tonnes, save 7.3 million litres of fossil fuel and help irrigate 120 hectares of agricultural land.

The Desvío Arijón project will serve 19 provinces, providing potable water for more than 300,000 people.

 

*Solar Project, Togo

 

The 30MW solar plant is being set up in Blitta with a funding of AED55 million by ADFD. The project, more than half of which is complete, will serve about 600,000 households, over 700 small and medium enterprises, as well las sectors such as education and health. In addition, it will create jobs in the region.

 

*Electricity distribution and community development projects, Guinea

 

Abu Dhabi Fund for Development financed the establishment of the AED67.5 million (US$18.36 million) National Distribution Centre with an aim to enhance the capacity of the national distribution network in the capital region of Conakry by efficiently managing and ensuring stability of supply. The project was completed and inaugurated in November 2020.

 

The Fund also financed an AED42 million community development programme in Guinea, which includes the establishment of automated laboratories, an automatic bakery, a training facility in the Bouke region and rural road development.

 

In addition to financing projects, ADFD directly supervises their management and implementation. It also ensures implementation of its projects in accordance with the agreements signed with the beneficiary countries.

 

Abu Dhabi Fund announced in 2020 a decision to defer the monthly installments on any outstanding dues of countries, that availed of its concessionary credit facility. The initiative was aimed at helping beneficiary countries to weather the economic fallout of the Covid-19 pandemic.-TradeArabia News Service