Abu Dhabi – Mubasher: The Abu Dhabi Fund for Development (ADFD) has financed hundreds of development projects since its establishment in 1971, with total investments of AED 4.4 billion ($1.187 billion).
In line with the UN’s sustainable development goals (SDGs), the UAE’s leading national entity for international development has contributed to the production of 2,584 megawatts of renewable energy in a host of countries.
"The ADFD believes in the vital role the renewable energy sector plays in attaining the sustainable development goals in developing countries. This important sector stimulates economic growth, creates employment opportunities, and drives innovation,” ADFD’s director general Mohammed Saif Al Suwaidi commented.
The ADFD funded renewable energy projects through joint financing agreements with the governments of many developing countries with AED 2.7 billion, while allocating the remaining amount to innovative and strategic partnerships.
"Through securing sources of energy, these projects have enabled the production of low-cost, affordable electricity and improved standards of living in these countries," Al Suwaidi said.
