Russia and the Middle East
Sun, 24 march 2019Sun
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Abu Dhabi Fund signs loan agreement to finance road project in Tajikistan

Proceeding from the keenness of Abu Dhabi Fund in assisting developing countries through development their economy and financing development projects in these countries, Abu Dhabi Fund for Development signed a loan agreement with Republic of Tajikistan that worth Dh55 million ( (around 15 million dollars) to fund Kulyab - Kalaikhumb road project.

The project aims to develop and improve the transportation system in the Pamir highland. This vital project contributes to help the residents to break from their isolation by linking them with the capital Dushanbe. Moreover, this road will be part of international road as it will be linking the capital with the Republic of China.

The agreement was signed by Mohammed Saif Al Suwaidi, Acting Director General of Abu Dhabi Fund for Development, and Safarali M. Najmudinov, Minister of Finance in Tajikistan. The signing ceremony was attended a number of high-level officials from both sides.

Al Suwaidi noted that this project includes constructing a paved road from Shorbad to Shagon that is 39 km in long and 7 m in width in addition to 1.5 m side shoulders. Also, the road will be provided by some protection from mountain landslides as well as some bridges over some of the valleys and streams, and drainage work and safety necessary.

Al Suwaidi stressed that signing of this agreement will allow the ADFD participate in financing one of the basic development projects in the Republic of Tajikistan, which represented in provision of sophisticated and modern road network that will help in facilitating the movement of inhabitants of the region, as well as improve their standard of living and advance the economic and social development which Government of Tajikistan is looking to achieve.

For his part, Najmudinov praised the keenness of the Abu Dhabi Government to promote the development process in Republic of Tajikistan through the provision of support to many projects and development initiatives through the Abu Dhabi Fund for Development. – Emirates News Agency, WAM