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UAE Establishes $10 Billion Israel Investment Fund

A $10 billion fund has been established by the United Arab Emirates, aimed at investing in specific sectors throughout Israel, including space, healthcare, water, manufacturing, energy, and agricultural technology, the Emirates News Agency (WAM) reported on Thursday.

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.

In an interview with Radio Haifa's Eli Levi, Netanyahu credited the establishment of the fund, the hefty promise of $10 billion, to "the Sheikh's belief in my economic leadership."

He added that this fund will help jump-start the Israeli economy as the country emerges from the economic throes of the coronavirus. (JPost / VFI News)