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Abu Dhabi allocates $105 million for renewable energy in 8 countries

Christian Fernsby |
The Abu Dhabi Fund for Development (ADFD) announced a record $105 million allocation of funds for renewable energy projects in eight developing countries.

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Those countries are Antigua and Barbuda ($15 million), Burkina Faso ($5.5 million), Chad ($15 million), Cuba ($20 million), the Maldives ($14 million), Nepal ($10 million), Saint Lucia ($15 million) and Saint Vincent and the Grenadines ($10 million).

The ADFD signed agreements worth $33 million with governments of three African nations. Thus, the overall commitment by ADFD was at $138 million.

The funding of eight countries comes as part of the seventh and final cycle of the International Renewable Energy Agency (Irena)/ADFD Project Facility, which was launched in 2014 with $350 million commitment in concessional loans. In the first six cycles, the cumulative funding had reached $245 million. Since the first cycle selection of projects, the ADFD has funded 32 projects in 26 countries. And so far 18 projects have been completed.

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