14 DAY TRIAL // On Sunday, the Abu Dhabi Fund for Development and the International Renewable Energy Agency, otherwise known as IRENA, announced that countries in the developing world were to receive $41 million (€30.27 million) funding that they were expected to use to implement green energy projects.
Information shared with the public says that this funding takes the form of concessional loans, and will be distributed among six countries.
According to Clean Techies, the countries that will benefit from this initiative are as follows: Ecuador, Sierra Leone, the Maldives, Mauritania, Samoa, and Mali.
IRENA and the Abu Dhabi Fund for Development expect that, all in all, the funding that they have made available to said nations will serve to set in place 35 megawatts of renewable energy capacity.
This green energy will come from hydro, solar, wind, and waste to energy schemes, they further detail.
Should things go as planned, the implementation of this green energy project will help boost local economy and also improve on the living conditions of people in said countries.
Interestingly enough, the $41 million in concessional loans that have now been made available by the IRENA and the Abu Dhabi Fund for Development are part of a green-oriented initiative that boils down to investing $350 million (€258.44 million) in promoting the use of renewables in developing countries.