(MENAFN) Abu Dhabi Fund for Development announced that it will provide USD57 million worth of concessional loans for clean energy projects in five developing countries, which are Argentina, Cuba, Iran, Mauritania and St. Vincent and the Grenadines, Emirates 24/7 reported.
The fund said that these loans are part of a its commitment to provide concessional loans worth USD350 million over a seven years period to finance renewable energy projects in developing countries, with Ecuador, Mali, Mauritania, Samoa, and Sierra Leone being among the countries that have already benefited from such loans.
"Renewable energy offers the prospect of clean, affordable power to the 1.3 billion people currently off the electricity grid," The ADFD said.
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