Abu Dhabi - Mubasher: Abu Dhabi Fund for Development (ADFD) has allocated a government grant worth AED 40 million to the Comorian government, according to a recent statement.

The grant will help enhance the efficiency of public utility systems, such as electricity supply, in the Comoros through installing new transformers and generators with a total capacity of 11 megawatts as well as rehabilitating existing distribution networks, the report indicated.

The director general of ADFD, Mohammed Saif Al Suwaidi, and the Comorian finance minister, Said Ali Said Chayhane signed on Sunday a Memorandum of Understanding (MoU) outlining the terms of the funding at ADFD’s headquarters in Abu Dhabi.

The report also pointed to the beginning of ADFD activity in Comoros, which date back to 1979 where the fund provided loans and grants worth AED 69 million to finance five projects supporting key sectors notably education, transport, health and electricity.

Since its inception in 1971, ADFD has financed development projects to the tune of about AED 77 billion in more than 80 countries around the world through concessionary loans and Abu Dhabi government grants.