UAE ANNOUNCES $10 BILLION FUND FOR INVESTMENTS IN ISRAEL

Fri 12 March 2021:

Following a phone call between Sheikh Mohamed bin Zayed, of the UAE, and Israeli Prime Minster, Benjamin Netanyahu, the United Arab Emirates has announced the establishment of a $10 billion (Dh36 billion) fund aimed at strategic sectors in Israel.

“Through this fund, the UAE will invest in and alongside Israel across sectors including energy, manufacturing, water, space, healthcare and agri-tech.

The investment fund will support development initiatives to promote regional economic cooperation between the two countries. Fund allocations will derive from government and private sector institutions,” the UAE said in a statement published on the state-run Emirates News Agency (WAM).

“The fund builds on the historic Abraham Accord and aims to bolster economic ties between two of the region’s thriving economies, unlocking investments and partnership opportunities to drive socio-economic progress,” the statement added.

Israel and the United Arab Emirates reached a historic peace deal on August 13 last year that led to a full normalization of diplomatic and trade relations between the two Middle Eastern nations in an agreement that former US President Donald Trump helped broker.

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