UAE announces $10bn fund for investments in Turkey

UAE announces $10bn fund for investments in Turkey
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Updated 24 November 2021

UAE announces $10bn fund for investments in Turkey

UAE announces $10bn fund for investments in Turkey

DUBAI: The UAE announced on Wednesday a $10 billion fund for investments in Turkey, state media reported.

“The UAE announced the establishment of a $10 billion fund to support investments in Turkey,” WAM said.

The announcement comes after Abu Dhabi’s Crown Prince Sheikh Mohammed bin Zayed held talks with Turkish President Recep Tayyip Erdogan in Ankara on Wednesday, opening a new chapter in relations between the regional rivals.

WAM said that the move was “to support the Turkish economy and boost bilateral cooperation between the two countries.”

It added that the main focus will be on “strategic investments,” especially in sectors including energy, health and food.

Sheikh Mohammed’s visit was the first high-level UAE trip to Turkey since 2012.