Today's Edition
ABU DHABI (WAM)
Abu Dhabi Fund for Development (ADFD) has signed its first cooperation agreement with the Government of the Republic of Mozambique, valued at approximately Dh1.84 billion ($500 million), to support the country's national development priorities, strengthen key sectors and advance its economic growth agenda.
The agreement was formalised at Emirates Palace on the sidelines of the high-level UAE–Mozambique Business Roundtable, held in conjunction with the conclusion of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries.
The signing was attended by Daniel Chapo, President of the Republic of Mozambique, and Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade.
Mohammed Saif Al Suwaidi, Director-General of ADFD and Basílio Zefanias Muhate, Minister of Economy of the Republic of Mozambique, signed the agreement in the presence of senior officials and representatives from both countries.
Al Suwaidi said, “This agreement reflects ADFD’s commitment to building strategic development partnerships that translate national priorities into tangible outcomes. It also marks an important step in expanding the Fund’s global reach and strengthening its contribution to sustainable development.
The addition of the Republic of Mozambique as the 109th country in ADFD’s global network of development partnerships reflects our continued commitment to extending the impact of development financing across regions.”
He added, “Development financing plays a vital role in enabling economic growth and advancing national development agendas.
"Through this agreement, ADFD will provide financing to support Mozambique’s priorities, strengthen key sectors and enhance the country's capacity to pursue long-term economic and social development.”
Basílio Zefanias Muhate expressed his appreciation for the strategic relations between Mozambique and the UAE, highlighting ADFD’s role in supporting economic development and strengthening the growth prospects of its partner countries.
He noted that the agreement represents an important milestone in bilateral cooperation, creating new opportunities to draw on the Fund’s expertise and financing capabilities to advance national priorities and deliver development projects.
These efforts will contribute to strengthening Mozambique’s economy and achieving its broader development objectives.
ADFD continue to expand its international development partnerships, directing financing towards priority projects identified by partner governments.
Through this approach, the Fund seeks to support resilient economies, advance sustainable development and contribute to a more stable and prosperous future for communities and generations to come.
