Home UAE Abu Dhabi Abu Dhabi Fund for Development finances Dhs110m energy security project in Tanzania The project’s financing will reduce energy import dependency, stimulate economic activities, develop existing industries and create job opportunities for the population by Gulf Business August 9, 2023 Image: ADFD The Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with Tanzania worth Dhs110m ($30m) to enhance energy security in the country. The project’s objective is to fully connect the Kagera administrative region with the national electricity grid, reducing dependency on energy imports from Uganda and providing sustainable and safe electricity sources to communities, economic areas and service facilities. Mohamed Saif Al Suwaidi, director general of ADFD, said that this strategic project was a significant step towards the development of Tanzania’s energy sector and ensuring sufficient electricity supplies to meet the population’s needs sustainably. “The fund will collaborate with Tanzanian partners to support their development programmes and work towards the UAE’s future aspirations and the fund’s strategic objectives of accelerating energy projects globally for the betterment of developing countries’ societies,” he said. ADFD-Tanzania ties Dr Mwigulu Nchemba, Minister for Finance of Tanzania acknowledged the longstanding relationship between the ADFD and Tanzania since 1977, which has played a vital role in implementing development projects and contributing to economic and social progress in the country. He emphasised that the project’s financing will reduce energy import dependency, stimulate economic activities, develop existing industries, and create job opportunities for the population. ADFD has previously financed six development projects in Tanzania, including the Kidaho-Uvinza Road and the Kagera Sugar Project. These projects have significantly contributed to the development process and improved the quality of life for Tanzanian communities. Read: How ADFD’s first development project in Nigeria will serve the community Tags Abu Dhabi Find for Development energy security loan agreement Tanzania 0 Comments You might also like DP World signs 30-year concession to operate multi-purpose Dar Es Salaam Port UAE’s ADNOC awards multibillion gas expansion contracts UAE President, India’s PM meet; deals signed include MoU to set up payment in local currencies India’s PM Narendra Modi to visit UAE on July 15