By IANS,
Abu Dhabi : The United Arab Emirates (UAE), as part of its initiative to support development projects in various developing countries, has extended a $10 million development loan to west African country Gambia.
The Abu Dhabi Fund for Development (ADFD) has extended the AED 36.73 million ($10 mn) loan to rebuild Mandinaba-Soma road, 141 km long and seven metres wide, in Gambia.
The agreement was signed by Mohammed Saif Al Suwaidi, acting director general of ADFD, and Mambury Njie, gambia’s minister for finance and economic affairs, at ADFD’s offices in Abu Dhabi.
Highlighting the importance of the road in Gambia’s developmental plans Al Suwaidi said: “This agreement will allow financing a major developmental project in Gambia. Empowering the country with a modern roadway, that will facilitate the smooth movement between key cities.”
Mambury acknowledged the role of the Abu Dhabi government in supporting vital projects in Gambia and aiding the development drive being carried out in the country.