“Abu Dhabi Development” finances the Bloos Strategic Road project with 73.5 million dirhams

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Abu Dhabi, July 10 / WAM / The Abu Dhabi Development Fund has signed a financing agreement with the government of the People’s Democratic Republic of Laos, to support the project to develop, improve and rehabilitate the southern national road No. 13, with a total value of 73.5 million dirhams (20 million US dollars).

The project aims to develop the transport sector in Laos, by improving the road and enhancing traffic safety efficiency, supporting economic growth and environmental sustainability, in addition to improving the internal and international network between different regions.
The agreement was signed through the visual communication technology by His Excellency Mohamed Saif Al -Suwaidi, Director General of the Abu Dhabi Development Fund, and His Excellency Fuong Ketavong, Deputy Minister of Finance in the Republic of Laos, in the presence of a number of senior officials and representatives of the relevant authorities on both sides.

His Excellency Mohammed Saif Al -Suwaidi said that the signing of the agreement reflects the firm commitment of the fund to support development efforts in developing countries, by financing strategic projects that contribute to enhancing the stability of societies and improving the quality of life.
He added that this joint project, which is the first of its kind with the Laos government to invest in infrastructure, represents a qualitative step in expanding the partnerships of the Abu Dhabi Multilateral Development Fund, in order to enhance regional integration, and contributes to enabling societies to overcome development challenges and achieve their aspirations towards a more stable and prosperous future.
Al -Suwaidi explained that the fund continues through its global partnerships, adopting a developmental approach based on sustainable and effective financing, and targets the vital priority sectors, such as transportation, energy, water and health, in order to support the ability of countries to implement their development plans and achieve results with a positive and sustainable impact.

For his part, His Excellency Fuong Ketavong expressed his deep appreciation for fruitful cooperation with the UAE and the Abu Dhabi Fund for Development, praising the role of the Fund in supporting comprehensive development projects, stressing that the Southern National Road project No. 13 is one of the strategic projects that will have a direct impact on the population, by facilitating the movement of daily movement, improving the efficiency of the transportation sector, and promoting local and regional trade.
He explained that the road represents a new path that supports the development of the local agricultural sector, by improving the access of farmers to the markets and reducing transportation costs, which contributes to enhancing food security and increasing families’ income, and the project also supports the quality of public services and the state’s ability to provide sustainable development solutions, stressing that his country looks to expand the horizons of cooperation with the fund in new economic areas during the next stage.
The project includes the construction and development of about 50 kilometers from the road, including the expansion of 20 km from two to four paths equipped with pedestrian sidewalks, and an additional 30 kilometers of the existing road.

The project also includes improving traffic safety measures, mitigating congestion, developing rain water drainage systems, and creating two trucks weighing stations, in addition to supporting technical capacity building initiatives.
It is expected that the road will contribute to improving the lives of more than 48 thousand families annually, equivalent to more than 255 thousand people, by enhancing economic activity, facilitating access to markets and services, and reducing transportation costs and reducing the duration of flights.
The Abu Dhabi Development Fund continues to finance strategic projects in more than 108 countries around the world, confirming its firm commitment to support economic development, achieving joint prosperity and sustainable development.