A delegation representing the Abu Dhabi Fund for Development, ADFD, has been briefed on plans to complete the second phase of the Tangier-Mediterranean Port in the Kingdom of Morocco.
ADFD funded the first phase with a development loan of Dh734.6 million, along with a government grant valued at Dh367.3 million, bringing the total funding of the project from the United Arab Emirates to some Dh1.1 billion. The briefing took place during the delegation's tour to inspect projects carried out by ADFD in Morocco.
In a statement during the visit, Mohammed Saif Al Suwaidi, ADFD's Director-General, said that the fund finances many vital projects in Morocco, including the Tangier-Mediterranean Port, based upon the ADFD's belief in the important role played by seaports in assuring sustainable economic development.
Al Suwaidi added that the fund's contribution was in response to the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, as well as the follow-up of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Abu Dhabi Fund for Development.