KEY POINTS
- ADFD commits $50 million to affordable housing for low-income families in Côte d’Ivoire.
- Initiative aims to create 25,000 budget-friendly homes, boosting jobs and urban development.
- Project strengthens UAE-Côte d’Ivoire ties and fosters sustainable socioeconomic progress.
Officials announced Monday that the Abu Dhabi Fund for Development (ADFD) has entered into an agreement to provide $50 million for the initial phase of a social housing initiative in Côte d’Ivoire.
The project will build 25,000 budget-friendly housing units in Abidjan, tackling essential needs for families with low incomes.
ADFD expands influence in Africa
This signifies ADFD’s initial endeavor in Côte d’Ivoire and demonstrates a dedication to broadening its development influence across Africa.
Mohamed Saif Al Suwaidi, Director-General of ADFD, and Bruno Nabagné Koné, Minister of Construction, Housing, and Urban Planning for Côte d’Ivoire, executed the pact.
Prime Minister Robert Beugré Mambé, Ambassador Vacaba Diaby, and other officials attended the signing ceremony.
“This partnership underscores our dedication to tackling housing shortages while fostering sustainable development,” Al Suwaidi said. “We aim to empower developing nations in achieving their growth aspirations.”
Strengthening ties and development goals
Prime Minister Mambé praised the UAE and ADFD for their support, calling the initiative the start of a “strategic partnership” between the two nations.
“This project will transform lives and further strengthen Côte d’Ivoire’s bilateral ties with the UAE,” he said.
The program is included in Côte d’Ivoire’s wider strategy to enhance urban living conditions and offer affordable housing in reaction to increasing population needs.
Socioeconomic effects
By concentrating on infrastructure growth, the initiative aims to boost local economic activity, generate employment in construction and associated fields, and improve overall community stability.
The housing initiative is in line with Côte d’Ivoire’s long-term urban planning objectives and the ADFD’s aim to foster sustainable economic and social progress.
Officials stated that the $50 million funding is viewed as a foundation for enhanced cooperation between Côte d’Ivoire and the ADFD, with possibilities for more initiatives in renewable energy and infrastructure enhancement.
With the initiation of the first phase, the project is ready to tackle urgent housing deficiencies while paving the way for advancements in the West African country.
