Country:United Arab Emirates
Year:2013
Policy status:In Force
Jurisdiction:National
Date Effective:2013
Policy Type:Economic Instruments>Direct investment, Economic Instruments>Fiscal/financial incentives>Grants and subsidies, Voluntary Approaches, Economic Instruments>Fiscal/financial incentives>Loans
Policy Target:Multiple RE Sources
Policy Sector:Framework Policy, Multi-sectoral Policy
Agency:Ministry of Foreign Affairs, Abu Dhabi Fund for Development, Crown Prince's Court, Masdar
Funding:Over $700 million allocated since 2013
Description:

The UAE government has established renewable energy as a key focus of its development assistance portfolio, totaling over US$700 million since 2013. In the flagship fund, the government (through the Abu Dhabi Fund for Development) has set aside US$350 million in soft loans for renewable energy projects (generation and transmission) in developing countries that are members of the International Renewable Energy Agency (IRENA).  

The UAE has also established a $50 million grant fund for renewable energy projects in 10 Pacific island countries, and has implemented or is implementing bilateral projects worth over 300 million in the Seychelles, Mauritania, Afghanistan, Egypt, and Morocco. The UAE is additionally the largest funder of IRENA, enabling the provision of policy, financing, and technological counsel and analysis globally.

Last modified: Mon, 12 Jan 2015 10:15:17 CET