Abu Dhabi Fund for Development, ADEX sign $91.9mln financing for Bahrain water project

Abu Dhabi Fund for Development, ADEX sign $91.9mln financing for Bahrain water project

The Abu Dhabi Fund for Development (ADFD) and Abu Dhabi Exports Office (ADEX) will extend AED337.9 million ($91.9 million) in financing to the Electricity and Water Authority in Bahrain for a water supply network project.

Under the signed agreements, ADFD will provide a loan of AED150.6 million, while ADEX has committed AED187.32 million.

The funds will be used to enhance the capacity of the water transmission networks within the second phase of Bahrain's Al Dour station to 50 million gallons.

With the expanded capacity, the facility will have reserves of at least three days' consumption average to cater to the daily water requirements of residents.

The station will provide drinking water supply and cater to the needs of construction, investment and industrial projects.

"The project financed by ADFD will raise the efficiency of water supply, contribute to water security and enhance the sustainability of water resources," said Mohamed Saif Al Suwaidi, Director General of ADFD and Chairman of the Executive Committee of the Abu Dhabi Exports Office.

(Writing by Cleofe Maceda; editing by Seban Scaria)

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