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Israel, UAE announce $10bn investment fund

The United Arab Emirates has announced it will launch a $10 billion fund that is set to invest in what it has deemed to be strategic sectors in Israel. The Emirates News Agency (WAM) reports that the decision to establish the fund was made following a phone call between Israeli Prime Minister Benjamin Netanyahu and Abu Dhabi’s Crown Prince, Sheikh Mohamed bin Zayed.

“Through this fund, the UAE will invest in and alongside Israel across sectors including energy, manufacturing, water, space, healthcare and agri-tech,” WAM reports. The fund, it said, follows through on the Abraham Accords, or the normalization agreement that Israel signed with the UAE and Bahrain in September. It was followed by an agreement with Sudan in October and with Morocco in December and has seen cooperation blossom across various fields.

“This initiative is an integral part of the historic peace accord signed by the UAE and Israel with the United States’ support and demonstrates the benefits of peace by improving the lives of the region’s peoples. It is a manifestation of the new spirit of friendship and cooperation between the three countries, as well as their common will to advance the region,” according to WAM.

Naama Barak