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Abu Dhabi fund backs social housing project in Africa

By Pramod Kumar
Bruno Nabagné Kone, minister of housing in Côte d’Ivoire, Robert Beugré Mambe, prime minister of Côte d’Ivoire and Mohamed Saif Al Suwaidi, Director-General of ADFD at the signing ceremony ADFD
Bruno Nabagné Kone, minister of housing in Côte d’Ivoire, Robert Beugré Mambe, prime minister of Côte d’Ivoire and Mohamed Saif Al Suwaidi, Director-General of ADFD at the signing ceremony

The Abu Dhabi Fund for Development (ADFD) will provide financing of AED183.5 million ($50 million) for a social housing programme in Abidjan, Côte d’Ivoire.

The first phase of the scheme includes 25,000 housing units and expands ADFD’s geographic reach across the African continent.

The investment in critical infrastructure projects will promote sustainable economic and social development across Africa and globally, said Mohamed Saif Al Suwaidi, director general of ADFD.

Prime minister of Côte d’Ivoire Robert Beugré Mambé said that ADFD’s financing for the social housing programmes underscores the strong and growing bilateral ties.

Liz Bains, a Dubai-based business journalist covering Africa and the Middle East, wrote in AGBI in October that ADFD has invested nearly $10 billion in development projects in 42 African countries over the past decade.

These included solar farms in Togo, Sierra Leone and the Seychelles, a road project in Kenya and hydropower and irrigation schemes along the Senegal river.

In September 2023, the UAE government, led by ADFD, launched the $4.5 billion Africa Green Investment Initiative.

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