UAE Launches Fund to Renewable Energy Projects in Africa

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Addis Ababa January 21/2022/ENA/ The UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) launched Etihad 7 program to fund renewable energy projects in Africa at Abu Dhabi Sustainability Week 2022.

According to the Ministry, Etihad 7, a UAE-led innovation program, is dedicated to securing funding for renewable energy projects in Africa with a view to supply clean electricity to 100 million people by 2035.

The program will raise funds from the public and private sectors for clean energy investment with guidance and coordination from the UAE’s MoFAIC and Office of the Special Envoy for Climate Change.

The ambitious initiative builds on the UAE’s longstanding and deep ties with Africa and will be a focal point of the country’s efforts to contribute towards the global sustainability agenda over the next decade, the Ministry said.  

The Etihad 7 initiative will help African nations meet fast-growing energy needs without the corresponding surge in greenhouse gas emissions, it pointed out.  

Commenting on the initiative, Sheikh Shakhboot bin Nahyan Al Nahyan, State Minister of  Foreign Affairs and International Cooperation said: “We will leverage our existing relationships in Sub-Saharan Africa, including diplomatic, humanitarian, and development cooperation, to share the UAE’s renewable energy expertise to advance economic and human development.”

Furthermore, he noted that the UAE already has a number of agreements in place with Sub-Saharan African partners under Etihad 7 to join them in pursuing their clean energy and economic aims.