UAE introduces technology fund to support developing nations in ET Telecom sector

The UAE Launches $200 Million Fund to Advance Technology in Developing Nations

The Gulf state of United Arab Emirates (UAE) recently launched a fund aimed at financing the development of advanced technology in developing nations. The fund, with an initial capital of $200 million, is being financed by the Abu Dhabi government and will be overseen by the UAE’s Advanced Technology Research Council (ATRC).

The aim of the fund is to make technologies developed by the UAE available to governments and organizations in poorer nations, as well as to finance research projects. According to Faisal Al Bannai, Secretary General of ATRC, this fund will enable the country to become a private client to test and solve their specific needs. The solutions developed through this process would then be either donated to the country or sold to them at an affordable price.

Al Bannai emphasized that the UAE is taking the risk and funding these projects in order to fulfill their goal of spreading technology and innovation to other parts of the world. This initiative serves as an opportunity for developing nations to access advanced technologies and research, ultimately contributing to their progress and growth.

The announcement of this fund was made at the World Governments Summit in Dubai, showcasing the UAE’s commitment to global development and technological innovation. This is in line with the UAE’s continued efforts to support and aid countries in need, demonstrating their dedication to creating a positive impact on a global scale.

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