UAE and Mauritius discuss bilateral relations and investment opportunities

Senior officials from the United Arab Emirates and Mauritius during the meeting.

Mohammed Saif Al Suwaidi, Managing Director of the Abu Dhabi Fund for Development (ADFD), received at the Fund’s headquarters in Abu Dhabi Shaukat Ali Soudhan, Ambassador of Mauritius to the UAE. Khalifa Abdullah Al Qubaisi, Deputy Director General of ADFD; and other senior officials from both sides were present at the meeting.

They discussed bilateral relations and investment opportunities that would contribute to the Mauritian economy and boost the country’s sustainable development.

Mohammed Saif Al Suwaidi said: “Mauritius is one of the countries that has enjoyed a distinguished strategic relationship with the Abu Dhabi Fund for Development for four decades. ADFD’s first funded project in the country was a water network, after which it funded many others in various sectors, which collectively helped improve the quality of life in Mauritius.

Expressing his appreciation and gratitude to the Abu Dhabi Fund for Development for helping developing countries strengthen their economies, Soudhan said the ADFD plays an important role in driving sustainable development in Mauritius by enabling it to implement numerous projects in strategic sectors.

The Ambassador indicated that through this meeting, we look forward to continuing relations with the Fund and exploring new opportunities for economic cooperation in priority sectors vital to Mauritius, such as water, renewable energies, as well as tourism and integrated urban development.

In 1982, the Abu Dhabi Fund for Development financed the construction of the Maraufakra water plant and in 2019 a solar photovoltaic project worth Dhs 36.7 million, benefiting around 10 000 families while reducing Mauritius’ dependence on fossil fuels. In addition, the Fund provided financing of 77 million dirhams for the construction of a specialized eye hospital equipped with the latest medical equipment.

The Abu Dhabi Fund for Development (ADFD) is a leading national entity for economic development assistance owned by the Government of Abu Dhabi. Created in 1971, it aims to help emerging countries by granting concessional loans to finance sustainable development projects as well as by administering long-term investments and direct contributions. In addition to managing the development grants offered by the Government of Abu Dhabi, the ADFD has adopted a policy of supporting the national economy and financing investments from the UAE’s private sector. Since its inception, ADFD has marked development milestones in 103 developing countries.

Over the past 50 years, the Fund’s development projects and investments, valued at AED150 billion, have helped the international community achieve sustainable economic growth and foster the implementation of the Sustainable Development Goals (SDGs). ) United Nations.

Last week, Mohamed Saif Al Suwaidi, Managing Director of the Abu Dhabi Fund for Development (ADFD), received Rodrigo Malmercadiz, Minister of Trade, Foreign Investment and International Cooperation of Cuba, at the headquarters of the Fund of Abu Dhabi for development in Abu Dhabi. Attending the meeting were Khalifa Abdullah Al Qubaisi, Deputy Director General of ADFD; Roberto Blanco, Cuban Ambassador to the United Arab Emirates; and other senior officials on both sides.

Discussions focused on bilateral relations, as well as development and economic opportunities for the Cuban government. They also discussed ADFD-funded projects in Cuba as part of its broader strategy to foster sustainable development in developing countries.

Al Suwaidi said that relations between the ADFD and the Cuban government have improved remarkably over the past five years, when the ADFD has funded renewable energy projects that have played a major role in improving the quality of life in this Latin American country and enabled him to achieve his goal. development goals.

He expressed ADFD’s willingness to further consolidate relations with Cuba and fund more projects that would strengthen the country’s economy.

Malmercadiz said: “The meeting was the culmination of our desire to strengthen coordination and cooperation with the Abu Dhabi Fund for Development, which finances development projects that have a major impact on various economic sectors in Cuba. “. He highlighted the importance of energy projects in his country, saying they were transforming the lives of thousands of families, accelerating the development of vital sectors and helping to preserve the environment through the reduction of carbon emissions. He also thanked the UAE and its leadership for implementing the projects through the ADFD, which has helped the country maintain its aspirations of producing 24% of electricity from renewable energy sources. clean by 2030.

In 2019, the Cuban government launched an ADFD-funded solar energy project. Worth 55 million Dhs, the plant has a production capacity of 15 megawatts. The Abu Dhabi Fund for Development has also allocated 11 million dirhams for a solar energy project at the University of Las Villas in Santa Clara with the aim of meeting the energy needs of large cities, reducing emissions of carbon and the consumption of organic fuels.

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