UAE, And Greece To Launch Billion-Dollar Scheme

The leaders of the United Arab Emirates (UAE) and Greece have agreed to further improve their bilateral ties in economy, regional security, defense, and foreign strategies.

During the meeting, Abu Dhabi Crown Prince Mohamed bin Zayed Al Nahyan and Greek Prime Minister Kyriakos Mitsotakis agreed to fund investments worth €4 billion across multiple sectors between the two states.

WAM reported that the ADQ, an Abu Dhabi-based investment and holding company, and Hellenic Development Bank (HDB), the national development bank of Greece signed the multi-billion dollar agreement.

Speaking on the occasion, Ioannis Tsakiris, Greek Deputy Minister for Development and Investments said that Greece and the UAE will continue to forge strong and strategic partnerships to engage more in investment activities in both the countries.

For his part, Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ expressed happiness about the increase in bilateral relations between the UAE and Greece in recent years.    

Alsuwaidi reiterated ADQ’s commitment to building a strategic partnership with Greece and hoped the acceleration of joint investments would contribute to the economic growth of both nations.  

Greece and Abu Dhabi’s annual trade sharing was $560 million in 2021, reflecting a 67.4$ growth compared to the year 2020.

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