The UAE has begun a fund to help poor countries get advanced technology. On Monday, the United Arab Emirates started a fund to help poor countries get advanced technology. This fund has $200 million (about R3.8 billion) to start with. It’s supported by the Abu Dhabi government and will be managed by the Gulf state’s Advanced Technology Research Council, the council explained.
Faisal Al Bannai, the secretary-general of ATRC, said the fund would let poorer nations use technologies made by the Gulf state. It will also help finance research projects. “We will work with countries to solve their problems,” he explained at the World Governments Summit in Dubai.
The solution could be given for free or sold at a cheap price. “We are paying for it, we are taking the risk,” Al Bannai added. The UAE has used government money to support development projects in Africa and Asia through its own agencies and foreign aid organizations.
This initiative, announced during the World Governments Summit in Dubai, aims to provide financial support for the development and adoption of sophisticated technologies in countries with emerging economies.
Managed by the UAE’s Advanced Technology Research Council (ATRC), the fund signifies the Gulf state’s commitment to leveraging its technological expertise for the benefit of less privileged nations. Faisal Al Bannai, the secretary-general of ATRC, highlighted that the fund would facilitate access to cutting-edge technologies developed in the UAE and finance research projects tailored to the specific needs of recipient countries.
