Greece and the UAE commit to $4.2 billion investment plan in energy, other sectors

·

Crown Prince Sheikh Mohammed bin Zayed al-Nahyan met with Greek Prime Minister, Kyriakos Mitsotakis, in Abu Dhabi on Monday and discussed ways to strengthen bilateral ties between the United Arab Emirates (UAE) and Greece.

During the meeting, Mitsotakis and the Crown Prince agreed to jointly fund investments in Greece worth $4.2 billion in a number of sectors including energy and infrastructure.

To make this initiative a reality, a deal was signed between Abu Dhabi holding company, ADQ, and Hellenic Development Bank and Hellenic Development Bank of Investments.

READ MORE: Foreign Ministers of Greece, Cyprus, Israel and the UAE, meet to shake narrative of Middle East.

Mubadala Investment Company and the Hellenic Development Bank of Investments also agreed to extend their partnership in a $607 million co-investment platform they established in 2018.

“The renewal of the successful collaboration between the Hellenic Development Bank and Mubadala Investment Company and the creation of a joint initiative for investments worth 4 billion euros is of pivotal importance,” the Greek PM’s office said in a statement.

READ MORE: Greece, UAE forge strategic partnership and condemn Turkish provocations.

Mitsotakis also said there was room for further cooperation between the European Union and the UAE on renewable energy.

“Due to its geographical position, Greece has the potential to become a gate for natural gas from the Middle East to Europe,” Mitsotakis said.

“We would like to explore the possibilities for further strategic cooperation and the participation of funds from the UAE in this direction.”

Source: Ekathimerini.

greek film festival sydney new

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Matt Pillios named Kay & Burton’s 2025 Victorian Agent of the Year

Star real estate agent Matt Pillios has reclaimed his place at the top, being named Kay & Burton’s 2025 Victorian Agent of the Year.

Greek astronomer to present at Melbourne seminar on preserving the stars

For millennia, humanity has looked up in awe at the night sky, finding in its silent beauty a profound source of inspiration.

Historic Plaka landmark from iconic Greek film to be restored

The “Kokovikos House,” is named after the fictional couple in Giorgos Tzavellas’ bittersweet classic starring Konstantinou and Kontou.

Melbourne’s Sunday morning strollers walk, talk and keep Greek alive

On a crisp Sunday morning at Merri Creek, a group of walkers from the Sunday Morning Strollers, winds its way along the leafy green trail.

A sweet favourite: Niki Louca’s authentic baklava recipe

Niki Louca from My Greek Kitchen shares her favourite recipe for baklava with The Greek Herald.

You May Also Like

UNHCR Chief’s visit to Lesvos refugee camps “extremely disturbing”

The United Nations High Commissioner for Refugees, Filippo Grandi, described his visit to Greece's refugee camps in Lesvos as "extremely disturbing". His account of...

Nikolaos Varellas appointed new Deputy High Commissioner of Cyprus to Australia

After working at the Ministry of Foreign Affairs of Cyprus, Nikolaos Varellas was appointed Deputy High Commissioner of Cyprus for Australia.

Greeks in lockdown react angrily to Armed Forces Day projection on Greek Parliament

Greece marked Armed Forces Day on Saturday with a video projected onto the Hellenic Parliament facade showing the history of the Greek army.