2023-12-14 09:04:01
The Dubai Future District Fund announced the allocation of 200 million dirhams, equivalent to 20% of its total financing of one billion dirhams, to support entrepreneurship in developing climate technology, in conjunction with the conclusion of the activities of the Conference of the Parties (28 COP), which was hosted by the United Arab Emirates in the city of Expo in Dubai.
Through this initiative, the “Dubai Future District Fund”, which His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, announced, aims to launch in 2021 with joint support from the Dubai International Financial Center and the Dubai Future Foundation, To support the achievement of the UAE’s comprehensive strategic vision for economic diversification and contribute to building a sustainable future.
The main sectors that will be supported under this initiative include climate technology, food and agriculture, building materials, logistics technology and other relevant sectors, in line with the role of the Dubai Future District Fund in strengthening the investment system in Dubai and supporting sustainable finance and innovation on a global scale.
On this occasion, His Excellency Khalfan Juma Belhoul, CEO of the Dubai Future Foundation and Chairman of the Board of Directors of the Dubai Future District Fund, said: “The Dubai Future District Fund’s announcement of allocating up to 200 million dirhams to support sustainable technology projects embodies the importance of continuing to strengthen the investment capital system.” “We are bold in Dubai to include sustainability sectors. The Dubai Future District Fund’s operations focus on the future of finance and future economies, areas that we believe are important in accelerating the global agenda for sustainability and innovation.”
Khalfan Belhoul added: “We are working in cooperation with the Dubai International Financial Center to make the most of resources, expertise and partnerships to stimulate growth in these pivotal areas. Together we are committed to developing an integrated system in which innovation flourishes and through which sustainable finance becomes the cornerstone of our economy.”
For his part, Arif Amiri, CEO of the Dubai International Financial Center Authority and a member of the Board of Directors of the Dubai Future District Fund, said: “Allocating up to 20% of the Dubai Future District Fund, which is worth one billion dirhams, confirms our keenness to stimulate growth and support technology and innovation projects that focus on… Sustainability.”
He added: “Our cooperation with the Dubai Future Foundation embodies our shared keenness to enhance the future of finance and innovation. This initiative is in line with our strategy and efforts to empower leading technology companies that provide innovative solutions aimed at facing pressing global challenges.”
Sherif Al Badawi, CEO of the Dubai Future District Fund, said: “This initiative embodies our firm commitment to supporting climate investments and our focus on the future of food and the future of logistics services, and reshaping the investment capital landscape in Dubai. Through focusing resources, concerted efforts and expertise, we aim to enhance our collective impact and stimulate growth.” And establishing a successful system for innovation and sustainable financing.”
For more information regarding the Dubai Future Neighborhood Fund, please visit the website: (www.dfdf.vc).
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