MONROVIA, Dec. 18 (LINA) – In an effort to mould the minds of Liberian youth, the Abu Dhabi Fund for Development (ADFD) has announced it will use a grant of US$5 million for projects in Liberia aimed at enhancing social services for Liberia’s young population.
The grant, which is worth (AED 18.3 million or equivalent to US$5 million), is for vital social projects as part of a support to the development of modern integrated sports and leisure infrastructure in Liberia.
The endeavor of President George M. Weah to court international support for Liberia’s development that is now yielding results with another bilateral assistance from the United Arab Emirates will also be a boost to social services in terms of sport and infrastructure.
ADFD, the UAE development body, announced that the scope of the project will cover the construction of a soccer stadium and a beach volleyball field with support facilities, such as car parks, as well as beach and boardwalk protections sites.
The fund made this disclosure at its Abu Dhabi headquarters during the signing of a Memorandum of Understanding between ADFD and the government of Liberia recently.
The Minister of State without Portfolio, Trokon Kpui, signed on behalf of the Liberia Government and the Director General, Mohammed Saif Al Suwaidi, signed on behalf of his organization to outline the terms of the funding agreement between both countries.
The signing ceremony drew the participation of senior representatives of the two parties,
According to Al Suwaidi, the ADFD has enjoyed strong relations with multiple African governments since 1974.
“Today, we are delighted to expand our sustainable development efforts on the continent through cooperating with the Liberian government for the first time and supporting the execution of this priority social services venture,” he noted.
Meanwhile, ADFD is also proud to support the advancement of the United Nations Sustainable Development Goals (SDGs) in Liberia, saying that it aims to drive the implementation of SDG Goal 3 on Good Health and well-being through the construction of the integrated sports complex in Monrovia.
For his part, Minister Kpui said the UAE and Liberia will continue to kindle the strong bonds of friendship and cooperation for the bilateral benefits of the two countries.
The Liberian minister making remarks at the signing ceremony commended the UAE for its continued support to Liberia, citing that the support of millions of dollars worth of Amored Personnel Carriers and other equipment to the AFL, funding for entrepreneurship for Liberian women and support to Liberia’s infrastructural development are highly appreciated by the Liberia Government and people.
Kpui further thanked the UAE, represented by ADFD, for financing the project, which was conceived by President Weah, believing that it will go a long way in enabling community development, nurturing sporting talents, and encouraging residents of the capital and surrounding areas to frequent sports and leisure facilities.
He also credited both President Weah and the Crown Prince of Abu Dhabi, Sheikh Mohammed Bin Zayed Al Nahyan, for the strong and productive relationship between the two countries.
The UAE government, however, thanked Liberia on the signing of two bilateral agreements – the Investment Incentive Agreement and the Agreement to halt Double Taxation between the two countries.
It can be recalled that during President Weah’s recent visits to the UAE, he encouraged prospective investors to target Liberia as an investment haven, noting that Liberia is open for business and that Emirati businesses coming to Liberia would be a win-win for both countries.
Since its inception in 1971, ADFD has funded development projects in 95 countries, including 40 African nations, to the tune of AED92 billion through concessionary loans, government grants, and investments.
The Fund’s total expenditure in Africa amounts to an estimated AED23 billion. ADFD has also invested in eight companies and two private equity funds to boost a variety of sectors on the African continent.
Implementation of this Special Presidential Project in Monrovia will begin in a few months.
