Abu Dhabi Fund for Development (ADFD), the national entity for development aid, has extended a concessionary loan of AED110 million ($30 million) to the Government of Mali to support its national social housing programme.
In a bid to meet the surging housing demand in Mali and improve the overall standard of living and well-being of the Malian people, the social housing programme seeks to modernise civil and housing services in the country as part of the government’s efforts to achieve sustainable development.
Mohammed Saif Al Suwaidi, director general of ADFD, and Dr Boubou Cisse, Malian Minister of Economy and Finance, ratified the loan agreement.
Al Suwaidi said: “As part of its sustained efforts to invest in infrastructure projects, the Fund focuses on the housing sector that plays a crucial role in enhancing living standards and boosting social security among the population. We are committed to assisting the Government of Mali in achieving its development programmes and wider growth objectives.”
Mali’s national social housing programme mandates the construction of 50,000 housing units across all major cities and regions of the country, including Kayes, Koulikoro, Bamako, Sikasso, Ségou, Timbuktu, Gao, Kidal, Ménaka and Taoudenni.
Cisse praised the historic relations Mali enjoys with the UAE, noting that ADFD funded its first development project in the country over four decades ago.
Abu Dhabi Fund for Development enjoys a long-standing close collaboration with the Government of Mali, dating back to 1976. Since then, the Fund has provided loans and administered government grants amounting to AED294 million, allocated to financing seven vital projects in key economic sectors.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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