ABU DAHBI, 15th November, 2016 (WAM)–Mohammed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development (ADFD), has discussed with Serzh Sargsyan, President of Armenia, ADFD’s existing developmental ventures in Armenia.

They also explored new schemes, projects and endeavours through which ADFD could support the government of Armenia in achieving the country’s developmental goals.

ADFD and the government of Armenia enjoy long-standing synergies. In 2007, ADFD provided Armenia with an AED37 million concessionary loan to develop the country’s agricultural and irrigation sector.

Providing the Armenian President with an overview of ADFD’s latest successful financing initiatives around the world, Al Suwaidi said, “The UAE and Armenia enjoy long-standing and cordial bilateral relations. We are pleased to meet with President Serzh Sargsyan today to renew these ties of friendship and identify new opportunities for collaboration across all key socio-economic sectors in Armenia.”

President Sargsyan praised the UAE’s keenness in fostering the development and growth of the world’s developing nations. He highlighted the relentless efforts of the Fund in expanding key infrastructure projects to ultimately lay the foundation for sustainable and long-term growth.