ADFD allocates $2.7bn for international water projects
Water sector projects account for 12% of the ADFD’s total expenditure
The Abu Dhabi Fund for Development (ADFD) has allocated $2.7bn towards water infrastructure projects around the world. The entity says it has already financed 108 projects across 56 countries since its inception to December 2018.
The ADFD says its interest in water and electricity projects reflects its keenness to support international efforts aimed at achieving the UN’s Sustainable Development Goals. The entity notes that its water investments align with Goal Six – Clean Water and Sanitation.
According to a report released to mark World Water Day, the ADFD’s development of other key sectors including agriculture, irrigation and energy has positively impacted millions of people through generating about 9,000MW of hydroelectric power in total. The entity says it has funded the construction of 63 dams and the implementation of 30 drinking water and irrigation networks.
“In line with its mission of driving sustainable development and elevating living standards in developing countries, ADFD views vigorous development of the water sector as a top priority. World Water Day presents an ideal opportunity to raise awareness of water-related issues and to renew our commitment to identifying solutions to current and future global water challenges,” said ADFD director-general Mohammed Saif Al Suwaidi.
The ADFD also added that its contributions to the development and reclamation of vast areas of agricultural land, along with its strategic water projects have helped enhance food security in beneficiary countries.
“The water sector is a fundamental pillar of development in terms of employment, national income and self-sufficiency of food resources. An adequate supply of water plays an instrumental role in the success of agricultural projects and sustainable power generation,” Al Suwaidi added.
