Development Abu Dhabi fund backs social housing project in Africa By Pramod Kumar December 10, 2024, 10:31 AM ADFD Bruno Nabagné Kone, minister of housing in Côte d’Ivoire, Robert Beugré Mambe, prime minister of Côte d’Ivoire and Mohamed Saif Al Suwaidi, Director-General of ADFD at the signing ceremony The Abu Dhabi Fund for Development (ADFD) will provide financing of AED183.5 million ($50 million) for a social housing programme in Abidjan, Côte d’Ivoire. The first phase of the scheme includes 25,000 housing units and expands ADFD’s geographic reach across the African continent. The investment in critical infrastructure projects will promote sustainable economic and social development across Africa and globally, said Mohamed Saif Al Suwaidi, director general of ADFD. Prime minister of Côte d’Ivoire Robert Beugré Mambé said that ADFD’s financing for the social housing programmes underscores the strong and growing bilateral ties. Jumeirah enters Africa to expand hotel portfolio Etihad to double routes and flights to Africa in 2025 Africa’s port assets are irresistible for the UAE Liz Bains, a Dubai-based business journalist covering Africa and the Middle East, wrote in AGBI in October that ADFD has invested nearly $10 billion in development projects in 42 African countries over the past decade. These included solar farms in Togo, Sierra Leone and the Seychelles, a road project in Kenya and hydropower and irrigation schemes along the Senegal river. In September 2023, the UAE government, led by ADFD, launched the $4.5 billion Africa Green Investment Initiative. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
