UAE creating investment fund in Israel

A $10 billion fund has been established by the UAE, aimed at investing in specific sectors throughout Israel, including space, healthcare, water, manufacturing, energy and agricultural technology, Report informs, referring to the Emirates News Agency (WAM).

The fund is the result of a phone call between Prime Minister Benjamin Netanyahu and Sheikh Mohamed bin Zayed, the Crown Prince of Abu Dhabi.

The investment fund is intended both for Emirati investments in Israel and for joint investments with Israel in various sectors, including energy, industrial production, water supply, space exploration, healthcare and agriculture.

These funds are designed to support initiatives to develop and promote economic cooperation between the two countries. The fund will be formed at the expense of both public and private funds.

On Sept. 15, 2020, in Washington, the Israeli side, with the active mediation of the US, signed documents on the normalization of relations with the UAE and Bahrain.