UAE to implement plan to invest $10bn in Israel

The flags of the UAE and Israel fly at the Dubai expo, in the gulf emirate [KARIM SAHIB/AFP via Getty Images]

The UAE will start carrying out its plan to invest $10 billion in Israel, sources revealed on Monday to Israeli economic publication the Globes, noting that the Abu Dhabi Growth Fund (ADG) will invest $200 million this year.

UAE Crown Prince Mohamed Bin Zayed promised former Israeli Prime Minister Benjamin Netanyahu that his country would spend $10 billion in investments in Israeli companies. This, however, was shelved as a result of the repeated failure to put together an Israeli government.

According to Globes, Bin Zayed decided to unfreeze the plan during Israeli President Isaac Herzog’s visit to the Gulf state on Sunday.

READ: Israel plans to sell early warning, defence systems to UAE

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