Abu Dhabi Fund For Development Funds To Develop Waste-To-Energy Plant

On December 13th, the Director General of Abu Dhabi Fund for Development (ADFD), Mohammed Saif Al Suwaidi has signed an agreement with the Minister of Finance, Ibrahim Ameer, for a USD 14 million concessionary loan, supporting the development of a waste-to-energy plant in the southernmost, Addu City.

The loan agreement was made during the COP21 Summit that took place earlier this year. A total of 1.5 megawatts of clean energy created through trash conversion will be distributed to nearly 6,000 homes under the terms of the deal.

The project will result in a 10% reduction in overall waste volume on the island. The project is expected to cost USD 28 million, according to reports.

Expressing hope for a cleaner future, the Minister of Finance, Ibrahim Ameer expressed his gratitude towards the loan agreement, that will not only create a sustainable waste management but also open up employment opportunities for over 100 individuals.