Tuesday, February 20, 2024

Dubai Future Neighborhood Fund allocates 200 million dirhams to develop climate technology

Date:

The Dubai Future District Fund announced the allocation of 200 million dirhams, equivalent to 20% of the total funding of one billion dirhams, to support entrepreneurs in developing climate technology, in conjunction with the actions of the Conference of the Parties (28).COP) hosted by UAE at Expo City, Dubai.

Through this initiative, the “Dubai Future District Fund”, announced by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler, Deputy Prime Minister and Minister of Finance of Dubai, is to be launched in 2021 with joint support. Dubai International Finance Center and Dubai Future Foundation contribute to supporting the achievement of the UAE’s comprehensive strategic vision for economic diversification and building a sustainable future.

Key sectors supported under this initiative include climate technology, food and agriculture, construction materials, logistics technology and other related sectors, in line with the Dubai Future District Fund’s role in strengthening the investment system in Dubai and supporting sustainable finance. and innovation on a global scale.

Speaking on the occasion, His Excellency Khalfan Juma Belhol, Chief Executive Officer of Dubai Future Foundation and Chairman of the Board of Directors of Dubai Future District Fund, said: Dubai Future District Fund has announced an allocation of up to 200 million dirhams to support sustainable technology. The plans include the importance of continuing to strengthen the investment capital system.” “We are bold in adding sustainability sectors in Dubai. Dubai Future District Fund’s operations focus on the future of financial and future economies. A Global Agenda for Sustainability and Innovation.”

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Kalban Belhole added: “We are collaborating with the Dubai International Financial Center to best leverage resources, expertise and partnerships to drive growth in these key areas. We are committed to creating an integrated system where innovation thrives. Sustainable finance is the cornerstone of our economy.”

For his part, Arif Amiri, CEO of the Dubai International Financial Center Authority and member of the board of directors of the Dubai Future District Fund, said: “Dubai allocates up to 20% of the Future District Fund, which is worth one billion. Dirhams affirms our passion for driving growth, technology and innovation projects… with a focus on sustainability.

He added: “Our collaboration with Dubai Future Foundation embodies our shared passion for advancing the future of finance and innovation. This initiative is in line with our strategy and efforts to develop leading technology companies that provide innovative solutions to address global challenges.”

Sherif Al Badawi, CEO of Dubai Future District Fund, said: “This initiative embodies our strong commitment to supporting climate investments and focuses on the future of food and future logistics services and reshaping the investment capital landscape in Dubai. By focusing on resources, combined efforts and expertise, our collective impact We aim to improve and stimulate growth.

For more information on the Dubai Future Neighborhood Fund, visit the website: (www.dfdf.vc)

Bill Dittman
Bill Dittman
"Freelance alcohol fan. Coffee maven. Musicaholic. Food junkie. Extreme web expert. Communicator."

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