Two loan agreements have been signed for the implementation of the Bahrain water supply network project. The loan agreements were signed by Abu Dhabi Fund for Development (ADFD) and the Abu Dhabi Exports Office (ADEX).
ADFD is a United Arab Emirates-based funding agency primarily engaged in supporting projects that help in achieving socio-economical growth in underdeveloped and developing countries. ADEX on the other hand was established by ADFD to provide buyer’s credit facilities in form of loans and guarantees to boost and open new markets for UAE exports.
The agreements are reportedly worth about $92 million which translates to Dh338 million. The ADFD will commit to a loan of Dh 150.6 million while Adex will provide Dh187.32 million.
Expectations for the Bahrain water supply network project
Led by Bahrain’s Electricity and Water Authority, the project is a part of Bahrain’s water strategy for 2030. It aims to increase Al Dour station’s water transmission network. In fact, they aim to increase the capacity during its second phase to 50 million gallons. This will then, ensure that the reserves are equivalent to at the very least three days of the consumption needs of residents.
The Chairman of Adex, Mr. Al Suwaidi commented on the Bahrain water supply network project. He noted that the two loan agreements will enable the country to build high-quality infrastructures. Hence, these facilities, he continued, will contribute to maintaining the sustainability of water resources. Moreover, the project will enhance the efficiency of water supply networks.
Meanwhile, Mohamed Al Suwaidi, the Director General of ADFD also spoke about the project. He said that they above all, aim to achieve water security as well as sustainability goals.
