Latest news with #strategic projects
Zawya
11 hours ago
- Business
- Zawya
ADFD: Strategic partner in advancing comprehensive Arab development
The Abu Dhabi Fund for Development (ADFD) has reinforced its position as one of the most prominent contributors in supporting economic and social progresses efforts in Arab countries, financing strategic projects that promote stability, drive growth and enhance quality of life, underscoring the UAE's steadfast commitment to its Arab neighbours. In recent years, the fund has broadened its engagement across the Arab region, translating its mission into tangible projects in vital sectors such as healthcare, energy and infrastructure, areas that are fundamental to the stability and future of communities. Each project represents a solid step forward in the path to comprehensive development. According to its 2024 Annual Report, ADFD's cumulative development financing reached AED216.5 billion, benefiting 107 countries across various continents. This total comprises AED157 billion in concessional loans, AED57.6 billion in government grants, and AED1.9 billion in direct contributions. In statements to the Emirates News Agency (WAM), the Fund said that in 2024 it managed six UAE government grants to Arab nations worth a combined AED810 million, benefiting Jordan, Morocco, Yemen and Mauritania. Jordan received more than AED452 million for three key projects: a national digital health transformation programme, budget support, and a reading skills development programme. Morocco was allocated AED129 million for the expansion of the Oued Akrach - Ain Aouda Road, Yemen received AED45 million for a solar power project in Socotra, and Mauritania was granted AED184 million for the Applied Sciences College. Among the standout initiatives is Jordan's recently launched 'Jordan Digital Health Centre', which aims to connect healthcare centres and create an integrated electronic medical records management system through a unified digital platform, to enhance Jordan's healthcare sector in delivering remote care services aligned with international standards. Phase one has already linked five hospitals in remote areas and three health centres across the kingdom, reflecting the depth of the UAE–Jordan cooperation in advancing development through digital innovation. The fund also oversees UAE grants under the Arab Gulf Programme for Development (AGFUND), with AED4.6 billion allocated each to Jordan and Morocco between 2012 and 2024 to support projects that directly improve citizens' lives. In the same period, Bahrain received an AED9.2 billion grant under the GCC Development Programme for major projects across various sectors. In 2025, ADFD has continued to implement high-impact investment projects across the Arab world. These include Egypt's 'Sofitel Legend Pyramids Giza' to support the tourism sector, an integrated tourism venture in Salalah, Oman, and the expansion of Bahrain International Airport. The fund has also advanced renewable energy in the Comoros through a solar power station, supported community stability in Somaliland with a housing project, and in June signed a financing agreement with the GCC Interconnection Authority for a strategic project to strengthen regional energy security. By championing strategic, high-value initiatives, the Abu Dhabi Fund for Development continues to act as a vital bridge for progress, reflecting the UAE's enduring commitment to spreading stability and prosperity across the Arab region and beyond.
France 24
3 days ago
- Politics
- France 24
Brazil's Lula vetoes parts of environmental 'devastation bill'
Dubbed the "devastation bill" by its detractors, the text recently adopted by lawmakers would have loosened environmental licensing laws for projects considered "strategic" by the state. For some permits, all that would have been required is a simple declaration of the company's environmental commitment. Lula instead reinstated the current strict licensing rules for strategic projects, such as a controversial oil mega-project at the mouth of the Amazon river, but set a one-year deadline for them to be approved or rejected. His veto also ensures that several Indigenous territories and the Atlantic Forest, which stretches along the east coast, will continue to enjoy special protection, Environment Minister Marina Silva told reporters. SOS Atlantic Forest, a non-governmental organization that had garnered over a million signatures calling for a veto of the law, hailed Lula's decision as "a victory" for environmental protection. Greenpeace also praised the leftist president's action on the issue. But the executive coordinator of APIB, Brazil's largest Indigenous rights group, told AFP he was disappointed that the president had not struck down the entire bill. Lula's veto must now be ratified by Congress, which is dominated by conservatives. Lula's environmental credentials are under close scrutiny in the run-up to the annual UN climate summit, which he will host in November in the Amazon city of Belem. While seeking to take a leadership role on climate change on the global stage, Lula has faced criticism at home for backing drilling in the Equatorial Margin, along the country's northern coast. He argues that the revenue from the oil field is necessary to finance Brazil's energy transition.
