The United Arab Emirates has launched a fund to finance the development of cutting-edge technology solutions in developing nations.
The $200 million fund will be financed by the Abu Dhabi government, and overseen by the Gulf state’s Advanced Technology Research Council, the council said. It was announced during the World Governments Summit (WGS) 2024.
The applications to the fund will take place through the ATRC Global Tech R&D Platform, described as “a channel for countries worldwide to tap into the UAE’s technological expertise to address their unique challenges.”
The initiative invites applications from governments, organisations, and eligible stakeholders all over the world, which will be eligible to receive support in sectors including aerospace, food and agriculture, healthcare, safety and security, sustainable development, environment, energy and transport.
“Our commitment is to empower every nation with the means to thrive in this technology-driven world,” said H.E. Faisal Al Bannai, Secretary General of ATRC, underscores the profound global impact of the initiative. “ATRC stands ready to partner with countries worldwide, leveraging our expertise in technology to address their challenges and drive collective progress in the AI-driven era.”
ATRC will offer nations access to its expertise, spanning quantum and AI, autonomous robotics, and cryptography, as well as advanced materials, propulsion, and space technologies.
Following the COP28 summit, the UAE has made substantial investments in renewable energy projects worldwide, housing the International Renewable Energy Agency (IRENA) headquarters and collaborating with the Abu Dhabi Fund for Development (ADFD) to offer concessional loans for renewable energy initiatives.
