{"id":99188,"date":"2024-12-26T00:00:00","date_gmt":"2024-12-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adfd-expands-its-funding-of-velana-airports-development-by-aed-147-mn\/"},"modified":"2024-12-26T00:00:00","modified_gmt":"2024-12-26T00:00:00","slug":"adfd-expands-its-funding-of-velana-airports-development-by-aed-147-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/12\/26\/adfd-expands-its-funding-of-velana-airports-development-by-aed-147-mn\/","title":{"rendered":"ADFD expands its funding of Velana airport\u2019s development by AED 147 mn"},"content":{"rendered":"

ADFD expands its Maldivian airport funding:<\/strong> The Abu Dhabi Fund for Development (ADFD) will provide an additional loan of AED 147 mn to support the development of Velana International Airport in the Maldives, state news agency Wam<\/a> reports. The fund provided an earlier loan of AED 183.5 mn in 2017 for the project\u2019s initial phases.<\/p>\n

The project aims to expand the airport to accommodate up to 26 passenger gates<\/strong> and a building dedicated to international flights, which can handle 7.5 mn passengers annually. <\/p>\n

ADFD and the Maldives go back over 40 years:<\/strong> Since 1976, ADFD supported numerous projects in the Maldives, targeting different sectors such as transportation, energy, tourism, and housing.<\/p>\n

The fund has been ramping up its foreign investments: <\/strong>The ADFD finalized<\/a> a AED 92 mn loan agreement with Rwanda\u2019s government earlier this month to enhance its local water systems. The fund also agreed<\/a> to allocate AED 183.5 mn to finance the first phase of Ivory Coast\u2019s Social Housing Program in Abidjan. Plus: it will help finance<\/a> Albania\u2019s new nationwide street surveillance system.<\/p>\n","protected":false},"excerpt":{"rendered":"

The fund provided an earlier loan of AED 183.5 mn in 2017<\/p>\n","protected":false},"author":1,"featured_media":99189,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1627],"tags":[1784,1391,811,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-99188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-abu-dhabi-fund-for-development","tag-debt","tag-development-finance","tag-enterpriseam-uae","wpautop","entry"],"acf":{"mongo_id":"f2791d53-6bac-4e21-bb22-d59a6bd441b7","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/2292.jpg","photo_position":"above","homepage_title":"","full_issue_title":"ADFD expands its funding of Velana airport\u2019s development by AED 147 mn","related_issue":[99180],"teaser":"The fund provided an earlier loan of AED 183.5 mn in 2017","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.2394c1b8-5baf-4818-bbdb-c0d41cba6af4.mp3"},"yoast_head":"\nADFD expands its funding of Velana airport\u2019s development by AED 147 mn - 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