Abu Dhabi commits $90bn to fund new infrastructure projects over next five years
Abu Dhabi is increasing investment in infrastructure projects, the director-general of Abu Dhabi Council for Economic Development, Fahad al-Raqbani, told the MEED Middle East Project Finance Conference on 29 January.
Al-Raqbani said the government of Abu Dhabi had earlier this month approved the injection of AED 330bn ($90bn) into the economy over the next five years. The funds will be used to finance the construction of new homes, schools, roads and other vital infrastructure projects.
Al-Raqbani said Abu Dhabi is simultaneously investing in industrial and service industries. “Collectively, these projects together with many others will contribute immensely to the diversification of Abu Dhabi’s economy and place it on a stronger footing to meet the goals of the Abu Dhabi Economic Vision 2030,” he said.
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