Two Abu Dhabi entities signed loan agreements worth nearly Dh338 million with Bahrain to finance a water source network project, it announced on Friday.
The Abu Dhabi Development Fund (ADFD) and the Abu Dhabi Export Office (ADEX) have reached an agreement with the Bahrain Water and Electricity Authority to obtain loans worth Dh187. 32 million and Dh187. 32 million, respectively.
The allocation aims to increase the capacity of the al-Dour station’s momentary phase water transmission networks to 50 million gallons, making certain reserves of at least 3 days of intake to meet residents’ wishes.
In addition to providing drinking water, the station will serve structural and commercial projects, supporting the Bahrain Water and Electricity Authority’s water strategy until 2030, which aligns with the United Nations Sustainable Development Goals.
The rite of signature took place in Bahrain in the presence of several officials from both countries.
“The two loan agreements signed with the Water and Electricity Authority of the Kingdom of Bahrain demonstrate the intensity of fraternal relations between the UAE and Bahrain and the willingness of our governments to maintain strong ties so that the two countries can walk towards the realization of each other’s aspirations and do not serve unusual interests. The allocation funded by ADFD-ADEX will increase the power of the water supply, contribute to water security and the sustainability of water resources. We are committed to supporting the Government’s progress goals. of Bahrain and enabling it to achieve the objectives of water security and sustainability,” said Mohamed Saif Al Suwaidi, Managing Director of the Abu Dhabi Development Fund and Chairman of the Executive Committee of the Abu Dhabi Export Office.
Bahrain is one of the first countries where ADFD began its progression activity in 1974. Subsidized loans and government grants to Bahrain amount to Dh23. 12 billion, covering 32 projects in major sectors.
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