Abu Dhabi Fund for Development (ADFD) and the government of Mali signed an AED33 million loan agreement to finance a hybrid solar energy project in Mali.
The project is aimed at contributing to the economic development of Mali through the deployment of its renewable energy resources, reducing the cost of electricity in Mali where power generation is largely dependent on diesel.
The ADFD said the project will have positive impacts on the lives of the rural population in the country through the supply of solar-powered electricity to 30 villages, benefiting nearly 123,000 people. The initiative will also boost job creation and economic activity in the region through the construction, operation and maintenance works that the project will involve. Additionally, the provision of electricity will improve the quality of healthcare and education in the areas served by the project.
His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, said: "Given the critical role of the renewable energy as a key enabler of sustainable development, ADFD is keen to finance vital projects in this sector to help developing countries unlock their potential. In line with this priority, ADFD supports countries that lack access to sufficient energy sources through enabling them to utilize their renewable sources.”
“The development of such massive projects in Mali will help create hundreds of job opportunities for its citizens and increase their contribution to nation building and development, while attracting new investments to the country to achieve sustainable development.”