The United Arab Emirates, in partnership with the International Renewable Energy Agency (IRENA), has committed a further $50 million in loans for renewable energy projects in developing countries.
The facility will be made available as the seventh offering of the Abu Dhabi Fund for Development (ADFD) loans program. Applications for the funding cycle will be accepted until February 14.
IRENA’s website states finance will be made available for government-backed “renewable energy projects in developing countries, that seek to increase energy access, improve livelihoods and advance sustainable development”. The program has committed $350 million to date.