ADFD offers loan worth AED18.36 million to Mauritania to fund renewable energy projects
ABU DHABI-The Abu Dhabi Fund for Development (ADFD) has signed an agreement with the Republic of Mauritania, whereby the ADFD would offer an easy loan worth AED18.36 million, to finance the renewable energy projects there.
Mohammed Saif Al Suwaidi, Director-General of the ADFD and Hamid Ould Ahmed Taleb, Ambassador of Mauritania to the U.A.E. signed the agreement.
The amount is allocated for setting up four power plants in four coastal towns in Mauritania to provide over 270kwatt of wind electricity. The projects will help curb carbon dioxide emissions to preserve clean environment.
Al Suwaidi said the loan follows the directives of the U.A.E. leadership to contribute to the development process in the developing countries.
For his part, the Mauritanian envoy commended the U.A.E. for strengthening the joint cooperation between the two countries, citing the role of the ADFD in the development process in Mauritania. He added that the project would improve the social life through provision of basic services to the coastal towns.
The ADFD had provided other six development loans worth AED293.7 million to Mauritania.-WAM