A new funding vehicle for Dubai Expo 2020 was revealed yesterday during UAE’ presentation in front of the Bureau of International Expositions in Paris. The €100 Million Expo Partnership Fund will provide finances to various projects of any kind and size and part of the campaign for the world fair.
According to the presentation, the United Arab Emirates has allocated 250 million euro fund which will be used for promoting innovation and cooperation for Dubai Expo 2020 bid. 150 million euros come as an aid package to support developing countries to take part in the expo with their own pavilions. The other 100 million euros will support innovative ideas and projects under the expo’s sub-themes – opportunity, sustainability and mobility. This €100 Million Partnership Fund will finance various initiatives of any size, sphere and at any stage of development, including water- and energy-related ideas, as well as logistic, transporting and educational programs. As the Fund is focused on innovation and entrepreneurship, it will create different projects with a long-lasting positive effect on “all of our communities”, as Princess Haya said.
All details related to the fund will be revealed next month, when they will be posted on Dubai Expo 2020 website. But this wasn’t the only announcement during Dubai’s presentation for hosting the expo in Paris. A second initiative will be of more global importance. Expo Live is designed to cope with 21 different global issues in the 21st century. These challenges, as they were called, will be linked to the expo’s sub-themes and will be met with the help of various governments, non-governmental organizations, members of the business, and the public. According to the plan, the initiative will be launched next year and will continue for tens of years.
Her Highness Princess Haya announced yesterday in Paris that the UAE will collaborate with the United Nations’ network of sustainable developments to further promote global partnership and innovation.
The final decision who would be the host of World Expo 2020 will be made in November, based on yesterday’s presentations of the four candidates – Dubai, Sao Paulo, Izmir and Yekaterinburg.
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