Abu Dhabi - Mubasher: Abu Dhabi Fund for Development (ADFD) has supported Egypt with grants and loans worth AED 4 billion across 64 development projects, according to a press release.

The projects spanned diverse sectors, most notably transport, housing, agriculture and irrigation, energy, industry and mining, education and healthcare.

In addition, ADFD owns an 84% stake in Abu Dhabi Tourist Investment Company, a Cairo-based hotel and tourism holding firm.

Mohammed Saif Al Suwaidi, the director general of ADFD said “ADFD’s work in Egypt over the past four decades is testimony to the Fund’s crucial role in boosting economic and social development across developing countries. The Fund’s projects align with the expansive vision and goals of the Egyptian government.”

The statement went on to list the different fields and projects that were supported by its finances, led by the housing sector, with AED 735 million directed to Sheikh Zayed City, one of Egypt’s largest residential developments.