The continued partnership between ADFD
and IRENA brings funding to the places where it can have the most impact and where financing is one of the greatest challenges.
So far the first two cycles of the Irena and ADFD
partnership have resulted in $98m worth of projects expected to produce renewable energy capacity exceeding 56 megawatts.
In its priority to support renewable energy sector, ADFD
in 2009 committed AED 1.
Commenting on the project, Al Suwaidi said: "The UAE is working through ADFD
to promote the widespread deployment of renewable energy towards achieving sustainable economic and social development in emerging economies.
The UAE, through the Abu Dhabi Fund for Development, is committed to helping promote economic development in countries around the world," said Mohammed Saif Al Suwaidi, director general of the ADFD
had also provided eight loans worth Dh 929.
The loan agreement was signed by His Excellency Mohammed Saif Al Suwaidi, Acting Director General of ADFD
and His Excellency Mohammed Mahraja Jumaa, Tanzania's Ambassador to the UAE.
Now providing soft loans to Arab and developing countries, ADFD
is to be developed in parallel with GHC's expansion.
The state-owned ADFD
is established by the oil rich United Arab Emirates in 1971 to provide assistance to developing countries in form of loans or grants to finance projects that boost development and improvement of new sectors and infrastructure.
285 billion) which was committed by ADFD
to provide concessional loans to projects endorsed by IRENA over seven funding cycles.
Mohammed Saif Al Suwaidi, director general of ADFD
places high importance on supporting renewable energy sector given its profound impact and numerous benefits on economies of developing countries and their sustainable development.
Adel Abdulla Al Hosani, director of operations department, ADFD
, said: "The UAE will continue to support the Government of Seychelles in implementing infrastructure projects and economic reform programmes to improve the living standards of its citizens.