ADFD, ADEX sign two loan agreements worth AED337.9 to finance water supply network project in Bahrain

ADFD, ADEX sign two loan agreements worth AED337.9 to finance water supply network project in Bahrain

ABU DHABI, 14th July, 2022 (WAM) -- Abu Dhabi Fund for Development (ADFD) and the Abu Dhabi Exports Office (ADEX) signed two loan agreements with the Electricity and Water Authority in Bahrain to finance a water supply network project.

Under the agreements, ADFD has committed to provide a loan of AED150.6 million, and ADEX to provide a loan of AED187.32 million.

The project aims to enhance the capacity of the water transmission networks within the second phase of Al Dour station to 50 million gallons to ensure reserves of at least three days’ consumption average to cater to the everyday needs of the residents.

Apart from drinking water supply, the station will serve construction, investment and industrial projects, thereby supporting Bahrain’s Electricity and Water Authority’s water strategy until 2030, which aligns with the United Nations’ sustainable development goals (SDGs).

The signing ceremony took place in Bahrain where the agreements were signed by Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development and Chairman of the Executive Committee of the Abu Dhabi Exports Office; Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy of Bahrain; and Yasser bin Ibrahim Humaidan, Minister of Electricity and Water Affairs of Bahrain. The