The United Arab Emirates (UAE) has recently launched a new initiative to finance the development of advanced technology in developing nations. The $200 million fund, backed by the Abu Dhabi government, will be overseen by the Gulf state’s Advanced Technology Research Council (ATRC). According to ATRC Secretary General Faisal Al Bannai, the fund aims to make technologies developed by the UAE available to governments and organizations in poorer nations, as well as to finance research projects.
Al Bannai also emphasized that the fund would enable the country to become a private client for countries looking to test and solve their specific needs. The solutions developed through this process would then be either donated or sold at an affordable price. 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.
The announcement of this fund was made at the World Governments Summit in Dubai, highlighting the UAE’s commitment to global development and technological innovation. This initiative serves as an opportunity for developing nations to access advanced technologies and research, ultimately contributing to their progress and growth.