- The United Arab Emirates is launching a program to finance renewable energy projects in Africa.
- The program also aims to provide access to electricity to millions of sub-Saharan Africans.
Abu Dhabi has announced the launch of the initiative “Eithad 7”, a financing program organised by the United Arab Emirates (UAE). The program aims to support electrification efforts as Africa transitions to a low-carbon electricity sector.
The program will run for 13 years and is expected to provide access to electricity for 100 million Africans. UAE is thus committing one year ahead of COP 28, which it will host in Dubai in 2023. “With Etihad 7, the UAE is consolidating its efforts to support the Sustainable Development Goal 7 (SDG 7) in Africa. In line with the UAE’s foreign policy and development goals, the program facilitates sustainable development by addressing key challenges that hinder access to clean and affordable energy in emerging markets,” Sheikh Shakhbout bin Nahyan Al Nahyan, UAE Minister of State, Minister of Foreign Affairs and International Cooperation stated.