(MENAFN) The Abu Dhabi Fund for Development, ADFD, has signed a MoU concerning the UAE's grant to Djibouti, which is valued at USD49.95 million, in implementation of the directives of the President, Gulf News reported.
The grant is allocated to financing a number of developmental projects to be identified and agreed upon in cooperation with the Government of Djibouti.
The grant will continue over the next five years, in the form of instalments, each worth USD10 million annually.
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