Abu Dhabi Development Company is financing and completing 16 projects worth 622 million dirhams
The Abu Dhabi Fund for Development announced that it funded and completed 16 projects in the renewable energy sector during the past year, with a value of 622 million dirhams.
The fund stated, in a statement yesterday, that it agreed in January 2020 to finance eight projects within the seventh round of the initiative to support renewable energy projects, in cooperation with the international agency "IRENA", with a total value of 384 million dirhams. It also signed three agreements to finance strategic projects with Togo, Liberia and Niger, worth 121.3 million dirhams.
He added that in the same year, the fund completed five projects in the renewable energy sector, with a capacity of 14.38 megawatts, with a total value of 117.3 million dirhams.
The Director General of the Abu Dhabi Fund for Development, Muhammad Saif Al-Suwaidi, said, "The year 2020 also witnessed the follow-up of the implementation of development projects in developing countries and work with our partners to achieve them and overcome the difficulties they face due to the spread of the new Corona virus." The specified time confirms the Fund's keenness to support the efforts of developing countries and help them secure their energy needs to achieve sustainable economic and social development.
In 2013, the fund launched an initiative to finance renewable energy projects in developing countries, in cooperation with IRENA, with a total value of 1.284 billion dirhams (about $ 350 million). In 2014, the fund also financed the UAE-Pacific Partnership Fund with a value of 183.5 million dirhams. ($ 50 million), and in 2016, he funded the UAE-Caribbean Partnership Fund, with a total value of 183.5 million dirhams ($ 50 million).
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