(Ecofin Agency) - The Abu Dhabi Fund for Development announced it is supporting the Samendeni Dam in Burkina Faso with $10 million. The dam was commissioned at the end of last November.

“ADFD’s robust relations with the Government of Burkina Faso and the country’s diligent efforts to achieve the UN’s Sustainable Development Goals have already fostered economic growth in key sectors while creating job opportunities and elevating living standards,” said Mohammed Saif Al Suwaidi, the Fund’s MD. With this financing, the fund’s total commitment in Burkina Faso has reached about 89 million Emirates dirhams, equivalent to $24.2 million with the current exchange rate.

It should be noted that Africa is currently the new “battleground” of influence for the oil and gas sector’s behemoths of the Gulf, with a union formed against the emirate of Qatar. The ADFD fund in the Burkinabe project could be seen as a response to the Qataris' announcement of an investment of more than $1 billion for the airport hub project in Rwanda. The Abu Dhabi Development Fund claims to have already invested nearly $6.2 billion in Africa since it started activities in 1971.

Idriss Linge