Sunday 27, December 2015

Abu Dhabi – MENA Herald: Abu Dhabi Fund for Development (ADFD) has extended AED77 million (US$21 million) in concessionary loan towards the construction of the Metolong Dam in the land-locked kingdom of Lesotho in South Africa. Construction of the dam that provides 71,000 cubic meters of drinking water daily was recently completed by the government of Lesotho.

ADFD’s loan was used to finance construction work of the concrete dam and its outbuildings, as well as for pumping and purifying plants and distribution pipelines.

Built at a total cost of AED700 million (US$189 million), the dam project aims to support Lesotho’s economy by enhancing the country’s water infrastructure, and augmenting existing drinking water sources in the capital Maseru, as well as in the arterial towns of Roma, Mazenod, Teyateyaneng and the surrounding villages. The dam is expected to meet the population’s water demands until 2025.

The project includes the construction of a dam, with the capacity of 53 million cubic meters on the Strait of Phuthiatsana River to store and distribute the river’s water. It also comprises tanks and a plant to purify and store water, four pumping plants for the four cities, 89 kms of distribution pipelines, and complete civil and electro-mechanical construction works, as well as technical and advisory services.

His Excellency Muhammad Seif Al Suwaidi, Managing Director, Abu Dhabi Fund for Development, said that the UAE, under the leadership of the President His Highness Sheikh Kahlifa bin Zayed Al Nahyan is keen to support and develop strong relationships with African nations that would ensure significant benefits for all concerned.

Speaking of the UAE’s contributory loan offered via the Abu Dhabi Fund for Development to Lesotho, he said: “ADFD remains committed to financing new infrastructure development projects that are a priority for the government of Lesotho and other developing countries in Africa.

“The ADFD contributory loan of US$21 million has helped finance the construction of the Metolong Dam – one of the most important dams in the country that meets a significant need for drinking water in several cities in Lesotho, in addition to developing the country’s water and irrigation infrastructure. We are confident the project will help Lesotho achieve sustainable development in the country.”

For its part, the government of Lesotho expressed appreciation to the UAE for its collaboration and support in achieving sustainable development across different sectors of the country’s economy.

ADFD Overview

Abu Dhabi Fund for Development is a national organization owned by the Abu Dhabi government. It was established in 1971 to help emerging countries achieve sustainable development by offering soft loans to finance development projects in these countries, adding to other long-term investments and direct contributions. Additionally, the Fund manages government grants offered by the UAE by overseeing and directly following the course of projects. Since its inception, the Fund has offered and managed AED65-billion to finance more than 459 development programs and projects in nearly 78 countries worldwide.