The Highest Denomination New Banknote in UAE Features the Image of a 'Korean-Style Nuclear Power Plant'

On the reverse side of the 1000 Dirham bill in circulation from the first half of next year
UAE nuclear power plant, KEPCO began construction in July 2012... Unit 4 currently under construction

[Asia Economy Reporter Kim Hyunjung] The United Arab Emirates (UAE) will feature the image of Korea's next-generation nuclear power plant on its newly issued highest denomination banknote.

According to a press release from the Central Bank of the UAE (CBUAE) on the 2nd (local time), to commemorate the 51st anniversary of the founding of the UAE, the new highest denomination banknote of 1000 dirhams will feature a design of the four reactors of the currently under-construction 'Barakah Nuclear Power Plant Complex' on the reverse side. The 1000 dirham note is expected to be in circulation from the first half of 2023. The CBUAE stated, "The new banknote aims to emphasize the spirit, success story, and culture of the UAE."

The front side of this banknote depicts a portrait of the late Sheikh Zayed bin Sultan Al Nahyan, the first president of the UAE, along with an image of a spacecraft. The CBUAE explained, "This design was inspired by the 1976 meeting between President Sheikh Zayed bin Sultan Al Nahyan and NASA astronauts," adding, "It expresses the first president's ambition to make the UAE a pioneer in space exploration."

The back side of the 1000 dirham note, which will be in circulation in the first half of next year in the United Arab Emirates (UAE). It features a panoramic view of the four reactors at the Barakah nuclear power plant complex. Photo by Yonhap News Agency

In 1976, the first president of the UAE personally invited astronauts and researchers involved in the US Apollo 17 program to the palace, showing great interest in space by listening to detailed stories.

The CBUAE explained the reason for featuring the Barakah Nuclear Power Plant Complex on the reverse side of the new banknote as "to highlight another global achievement of the UAE," adding, "This complex is key to diversifying the nation's energy sources and helps reduce carbon emissions, bringing the UAE one step closer to complying with related international regulations." The UAE will produce the 1000 dirham banknote using eco-friendly polymer material, which lasts 2 to 3 times longer than traditional banknotes, making it more environmentally friendly.

The Barakah Nuclear Power Plant is a project to build four Korean next-generation APR1400 reactors (total generation capacity of 5600 MW) in the Barakah region, located 270 km west of Abu Dhabi, the capital of the UAE. Barakah means 'God's blessing' in Arabic.

Korea Electric Power Corporation (KEPCO), which won the project in December 2009 by beating competitors from the US, France, and China, began construction in July 2012, completed up to Unit 3, and is currently building Unit 4. Once all four units are operational, the Barakah Nuclear Power Plant will be able to produce 25% of the UAE's total electricity demand.

Although the UAE is an oil-rich country, oil emits a large amount of greenhouse gases and is a limited resource that may eventually be depleted, so the UAE introduced nuclear power. The UAE was under British colonial rule and gained independence in 1971, marking its 51st anniversary this year.