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.




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


Latest News

Christopher Michalakas among South Australia’s top law graduates

With three major law schools and over 4200 legal practitioners currently practising, South Australia boasts a strong fraternity of lawyers.

The dangers for the Hellenism of diaspora

The Hellenism of diaspora is faced with certain social and historical dangers, situations and realities which cause serious problems.

From ‘greeklish’ to ‘engreek’: The new social media slang

The (new) social media slang is a polyphonic, symbolic language, a cryptic way of communication, which is difficult to decode.

Greek winners at Olive Japan commit to quality and the planet

At the 13th edition of the Olive Japan International Olive Oil Competition, Greek olive oils took home 7 Gold awards and 17 Silvers.

Lipsi labelled Greece’s secret island gem of 2024

Le Figaro has spotlighted Lipsi, the main island in a chain of around 30 isles, in its 2024 list of Greece’s “secret” islands.

You May Also Like

The story of Greek migrant Thomas Papadopoulos who is searching for his long-lost friend

Thomas Papadopoulos is searching for his long-lost friend, Nikos, who he travelled with on the ‘Patris’ during in 1962.

Annita Demetriou: Cyprus elects first female and youngest-ever parliamentary speaker

The Cypriot parliament elected its first female speaker on Thursday, handing the role to 35-year-old Annita Demetriou.

‘Pure hell’: Villagers in shock as deadly bushfires rage across Cyprus and Kefalonia

Greek villagers are in shock this morning as deadly bushfires rage across Cyprus and the island of Kefalonia.