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FINANCIAL NEWS
UAE backs USD9m hybrid solar project in Mali
14 Jun 2015
(MENAFN) UAE, through Abu Dhabi Fund for Development (ADFD), sealed USD9 million loan agreement with Mali to back a hybrid solar energy project, Gulf News reported.
The funding expresses ADFD’s involvement to launch renewable energy projects in friendly nations given the sector’s crucial role in aiding economic and social development.
The project aims to contribute to the economic development of Mali by the optimal deployment of its renewable energy resources, reducing the cost of electricity in the country.
It’s worth mentioning that ADFD in 2009 committed USD350 million to the deployment of renewable energy in developing countries across seven loan cycles.
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