The United Arab Emirates announced the launch of a $ 10 billion strategic investment fund in Israel. The announcement was supposed to be made yesterday after a meeting in the UAE between Prime Minister Benjamin Netanyahu and Sheikh Mohammed bin Zayed, the de facto ruler of Abu Dhabi. But the meeting was canceled due to the diplomatic row between Israel and Jordan, which closed its airspace to Netanyahu’s planes. Related articles: Israel Space and UAE EDGE to develop unmanned aerial vehicles and instead an announcement was made in Abu Dhabi, “after a constructive phone call received by His Highness Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, from Benjamin Netanyahu Prime Minister of the State of Israel, the United Arab Emirates announced the creation of a fund worth 10 billion dollars targeting strategic sectors in Israel. Through this fund, the UAE will invest in and alongside Israel in various sectors including energy, manufacturing, water, space, healthcare, and agricultural technology. The investment fund will support development initiatives to enhance regional economic cooperation between the two countries. Fund allocations will be allocated from government and private sector institutions. ”“ The fund is based on the historic Abraham Agreement and aims to strengthen economic ties between the two booming economies in the region, unleash investments and partnership opportunities to advance social and economic progress. ”This initiative is an integral part of the agreement. The historic peace signed by the UAE and Israel with the support of the United States, and it demonstrates the benefits of peace by improving the lives of the peoples of the region. It is the embodiment of the new spirit of friendship. And cooperation between the three countries, as well as their common will to advance the region. ”As part of the Abraham Agreements, a $ 30 billion investment fund was supposed to be created by Israel, the United Arab Emirates, and the United States with a large part of the funding from the United States. But the plan was suspended. After President Biden took office in the US Published by Globes, Israel business news – en.globes.co.il – March 12, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
The UAE launches an Israeli investment fund worth 10 billion dollars
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