UAE announces $ 1 billion investment in Israel

Abu Dhabi: The UAE has announced a $ 1 billion investment in Israel. The announcement came after a telephone conversation between Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Commander of the UAE Armed Forces, and Israeli Prime Minister Benjamin Netanyahu.

Investments will be in energy, construction, water, aerospace, health, agriculture and technology. The investment fund will support the strengthening of economic cooperation between the two countries. Funds will be raised from private and public sector entities. The two countries have been cooperating in various fields since the signing of the peace agreement with Israel last year.

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Last Updated Mar 13, 2021, 8:11 PM IST