ECONOMIC and investment co-operation between Guyana and the Abu Dhabi Fund for Development (ADFD) is expected to intensify following an engagement between President Dr. Irfaan Ali, and ADFD Director-General Mohammed Saif Al Suwaidi.

This discussion took place during President Ali’s visit to the United Arab Emirates (UAE) this week for the Caribbean Investment Forum (CIF2022), and the Global Business Forum LATAM.
During the engagement with Al Suwaidi, President Ali pointed to the need to strengthen ties to achieve greater prosperity between the two nations.

President Ali, his team and the ADFD side, which included senior officials, discussed the strategic relations and future opportunities that will serve their interests.

The President praised the UAE leadership for the country’s extraordinary development, and said that the strong bilateral relations, as well as cooperation with ADFD, would enable Guyana to achieve his nation’s vision of prosperity.

“We see the UAE not only as a strategic trade and investment partner, but also as a global model of sustainable development, state-of-the-art technology, infrastructure and governance. A stronger strategic partnership with Abu Dhabi Fund would greatly facilitate our own developmental ambitions,” Dr. Ali said.

ADFD is a leading national financial entity owned by the Abu Dhabi government. It was established in 1971 with an aim to help developing countries strengthen their economies by providing concessionary loans for development projects as well as through long-term investments and direct contributions.

In addition to managing development grants given by the Abu Dhabi government, ADFD has adopted a policy of supporting the national economy by driving private-sector investments, financing national exports and enabling exporters to expand into global markets, thus enhancing the competitiveness of the UAE economy.

Apart from the Fund, President Ali said the UAE, in general, has shown the world how to build a well-diversified economy with a robust infrastructure.

“That is exactly what we want to achieve in Guyana through our partnership with ADFD and key stakeholders in the UAE,” the Head of State said.

He also related that Guyana is already working closely with ADFD on infrastructure projects, including clean energy, and that a stronger collaboration would accelerate the country’s economic transformation and climate efforts.

Al Suwaidi, in return, expressed his gratitude to the Guyanese President, saying that the engagement would go a long way in strengthening the ties through a more robust economic and investment cooperation.

“Abu Dhabi Fund for Development enjoys strong strategic relations with Guyana; we are already engaged in developmental work in the country. The visit of Dr. Irfaan Ali reflects the eagerness on both sides to take the developmental partnership to new heights,” the Director-General said.

He also pledged ADFD’s full support for Guyana’s developmental aspirations and efforts to achieve its sustainable goals.