• Fri. Mar 1st, 2024

UAE Launches $200 Million Fund to Advance Technology in Developing Nations

ByEditor

Feb 12, 2024
UAE introduces technology fund to support developing nations in ET Telecom sector

The UAE has recently launched a fund to finance the development of advanced technology in developing nations. The $200 million fund is being financed by the Abu Dhabi government and will be overseen by the Gulf state’s Advanced Technology Research Council (ATRC). The aim of the fund is to make technologies developed by the UAE available to governments and organizations in poorer nations, as well as to finance research projects.

Faisal Al Bannai, Secretary General of the ATRC, stated that this initiative will enable countries to become private clients and test specific needs. The solutions developed through this process will either be donated or sold to them at an affordable price. He emphasized that the UAE is taking on this risk and funding these projects in order to fulfill their goal of spreading technology and innovation globally. This initiative serves as an opportunity for developing nations to access advanced technologies and research, ultimately contributing to their progress and growth.

The announcement of this fund was made at the World Governments Summit in Dubai, showcasing the UAE’s commitment to global development and technological innovation. This initiative aligns with the UAE’s continued efforts to support and aid countries in need, demonstrating their dedication to creating a positive impact on a global scale.

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