Abu Dhabi Fund for Development Injects AED1.47 Billion into Central Bank of Sudan
Abu Dhabi-UAE: 23 January, 2017
Abu Dhabi Fund for Development (ADFD) deposited AED1.47 billion into the Central Bank of Sudan (CBOS) to secure increased liquidity and stimulate economic growth in Sudan.
His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, signed an agreement to that effect with His Excellency Hazim Abdegadir Ahmed Babiker, Governor and Chairman of the Board of the CBOS.
Reaffirming the UAE’s keenness in strengthening bilateral relations with Sudan, His Excellency Mohammed Saif Al Suwaidi said: “The agreement, draws on the directives of the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to enhance mutual collaboration and underpin the Sudanese government’s efforts to overcome economic challenges.”
He added: “The deep-rooted affiliation between our two countries is a prime example of productive collaboration among nations. Over the past few decades, the UAE has proactively supported the long-term socio-economic development efforts of the Sudanese government.”For his part, His Excellency Hazim Babiker expressed his deepest appreciation for the UAE’s wise leadership and praised the people of the UAE for their unwavering support to the Sudanese. Furthermore, he commended the UAE government on its invaluable assistance in overcoming financial and economic challenges in Sudan.
Lauding the relevance of the agreement, he profoundly thanked ADFD for the financial injection that aims to promote monetary and fiscal stability in the country, encourage investment and optimise cash flow.
About Abu Dhabi Fund for Development (ADFD)
Abu Dhabi Fund for Development is a national organization owned by the Abu Dhabi government. It was established in 1971 to help emerging countries achieve sustainable development by offering concessionary loans to finance development projects in these countries, adding to other long-term investments and direct contributions. Additionally, the Fund manages government grants offered by the UAE by overseeing and directly following the course of projects. The Fund has financed 488 projects in 83 countries.
© Press Release 2017