ADFD participates in opening ceremony of Kidaho-Ovinza Road project in Tanzania

ABU DHABI, 17th September, 2015 (WAM) -- Abu Dhabi Fund for Development, ADFD, has participated in the opening ceremony of the Kidaho-Ovinza road project in Tanzania held in the presence of Jakaya Mrisho Kikwete, President of the Federal Republic of Tanzania, and Abdullah Ibrahim Al Suweidi, the UAE Ambassador to Tanzania. The 51 km long road project was funded by ADFD through the allocation of an Dh170 million (US$46.12 million) concessionary loan. The project aims to serve as a vital link between Kidaho, Ovinza and cities between them, and facilitate the easy movement of people and merchandise with neighbouring countries, boosting overall economic activity within Tanzania. The ADFD Director-General stressed the UAE’s keenness, under the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, to promote excellent bilateral relations with friendly African countries and eventually achieve the mutual interests for both sides. "ADFD enjoys outstanding relations with the Federal Republic of Tanzania and we have administered the provision of concessionary loans and management of government grants to the tune of Dh233 million (US$64 million) in Tanzania. This fund was allocated towards the financing of 4 development projects across vital economic sectors including industry, transport and water," he said. "The projects funded by ADFD in Tanzania have contributed to the sustainable development of the country through supporting Tanzanian government's efforts and aspirations to accelerate economic and social development," he added. Kidaho - Ovinza Road project is part of the proposed 604-kilometer highway that connects the eastern and western regions of the Federal Republic of Tanzania. – Emirates News Agency, WAM - http://www.wam.ae/en/news/emirates/1395285626886.html