ABU DHABI, (Pakistan Point News - 07th Oct, 2021) Mohammed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development (ADFD), has received a delegation from the Central Bank of Egypt led by Governor Tarek Hassan Amer, where they explored bilateral relations, economic cooperation and the significant role the UAE plays in leading efforts that help sustainable economic development in Egypt The meeting was attended by Khalifa Abdulla Al Qubaisi, Deputy Director-General of ADFD, and Rashed Al Kaabi, Director of the Investment Department at the Fund.
Al Suwaidi welcomed the Governor of Egypt's Central Bank and applauded the strong ties between both countries in several fields. He emphasised that the delegation's visit to ADFD is a great opportunity for dialogue and discussion on mechanisms to boost future cooperation and potential economic opportunities deemed as a national priority by the Egyptian government.
Al Suwaidi stated that the Fund has had a strategic partnership with the Egyptian government for over 50 years and has supported economic development in Egypt, helping the country to achieve its development goals. He also reiterated ADFD’s vision to continue its developmental role by analysing investment opportunities at the Central Bank and utilising the Fund’s available investment tools to support the Egyptian government in the pursuit of its future aspirations.
Amer, in turn, commended the immense efforts by the UAE, represented by the Abu Dhabi Fund for Development, to help the Egyptian government achieve financial and economic stability, thanks to ADFD's support that is being utilised to fund development projects in key growth sectors.
He also showcased reform programmes and legislative measures taken by the Egyptian government that significantly contributed to creating an attractive investment environment, enabling the national economy to achieve positive results over the past years.
Since it commenced its activities in Egypt in 1974, the Abu Dhabi Fund for Development has funded more than 75 strategic projects in the country with a total value of approximately AED3.3 billion in projects spanning several vital sectors.
The Fund also owns an 84.3 percent stake in the Abu Dhabi Tourism Investment Company (ADTIC) in Egypt, which aims to support the tourism sector and improve tourist services in a key sector that supports economic growth in the country.
