The United Arab Emirates (UAE) has recently announced the launch of a $200 million fund to finance the development of advanced technology in developing nations. This fund, which is being financed by the Abu Dhabi government and overseen by the Gulf state’s Advanced Technology Research Council (ATRC), aims to make technologies developed by the UAE available to governments and organizations in poorer nations, as well as to finance research projects.
According to ATRC Secretary General Faisal Al Bannai, the fund will enable the country to become a private client for these countries, allowing them to test and solve their specific needs. The solutions developed through this process will then be either donated or sold at an affordable price. Al Bannai emphasized that the UAE is taking on this risk in order to fulfill its goal of spreading technology and innovation throughout the world.
This announcement was made at the World Governments Summit in Dubai, showcasing 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. It also aligns 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.