ADQ inks €4 investment deal with Greece banks

ADQ, an Abu Dhabi-based investment and holding company, has signed an investment partnership agreement with the Hellenic Development Bank (HDB) and Hellenic Development Bank of Investments (HDBI), the sovereign fund-of-funds of Greece, to fund investments worth €4 billion across multiple sectors and asset classes of the Greek economy.

The event took place in Abu Dhabi in the presence of His Highness Sheikh Mohamed bin Zayed Al Nayhan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces; and Kyriakos Mitsotakis, Prime Minister of Greece.

The exchange of agreement was between Kostas Fragogiannis,deputyministerforeconomic Diplomacy and Openness at the Greek Ministry of Foreign Affairs; Ioannis Tsakiris, deputy minister for Development & Investments; and Mohamed Hassan Alsuwaidi, managing director and CEO of ADQ.

The agreement underscores the growing economic ties between the two countries and will drive significant investor interest in Greece. The three parties will invest individually and jointly, across target sectors including renewable energy, infrastructure, agriculture, technology, healthcare and life sciences, amongst others.

Ioannis Tsakiris said Greece and the UAE continue to forge strong and strategic partnerships underpinned by investments that provide growth opportunities for both nations.

Mohamed Hassan Alsuwaidi said bilateral relations between the UAE and Greece have strengthened in recent years particularly in the areas of trade and economic development.

“Today’s signing underlines ADQ’S commitment to build strategic partnerships with key entities that complement our investment strategy and our ability to generate sustainable financial returns. We are confident that our joint collaboration will accelerate investments that will contribute to the economic growth of both nations.”