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

On December 13^th, 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.