UAE making efforts to support developing countries
UAE’s government-backed development aid entity, Abu Dhabi Fund for Development (ADFD), allocated $17m to the development of renewable energy and to deliver those energy solutions to people, in Seychelles, reported The National.
With UAE’s move to a non-oil economy, its most significant challenge was supporting countries who imported oil from UAE. One of these countries was Seychelles, where 100% of their energy solutions was from oil imports provided and resold by Seychelles Petroleum Company (SEPEC)
UAE’s goal in Funding 90% of the energy solutions is right in Seychelles plans when it posted their proposal for energy policy 2010-2030
In the proposal, the goals that Seychelles was aiming for are that 100% of energy be made from renewable energies, and because of the UAE, they might well be on their way.
So, what is the UAE funding?
The money will be used to fund two agreements as reported by Arabian Business, with the first being an allocation of $8m which will go to the development of a solar farm in the island of Romainville.
The second will be an allocation of $9m to the installation of a power grid that can withstand 33kV in Mahé, and which purpose is to allow faraway places to receive energy more efficiently since a higher voltage means fewer losses of power.