UAE AND GREECE TO SET UP €4bn INVESTMENT INITIATIVE
▶ Sheikh Mohamed bin Zayed and Greek prime minister reiterated commitment to strategic ties
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, met Greek Prime Minister Kyriakos Mitsotaki yesterday.
As part of Mr Mitsotakis’s visit to Abu Dhabi, the UAE and Greece said they agreed to create a €4 billion ($4.23bn) initiative to make investments in the Greek economy.
Mr Mitsotakis was given an official reception at Qasr Al Watan, where the national anthems of the UAE and Greece were played, followed by a 21gun salute, state news agency Wam reported.
Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, and Sheikh Khaled bin Mohamed, member of Abu Dhabi Executive Council and chairman of Abu Dhabi Executive Office, were among those in attendance.
During their meeting, Sheikh Mohamed and Mr Mitsotakis discussed enhancing co-operation between their countries.
Sheikh Mohamed said the visit would help to expand the strategic partnership between the Emirates and Greece.
They reviewed opportunities to advance their relations, especially in the economic, investment, developmental, environmental and energy fields, and looked at expanding their partnership in renewables and food security.
The leaders also exchanged views on several regional and global issues and relevant developments, including the crisis in Ukraine and its humanitarian and economic effects.
Mr Mitsotakis arrived in the UAE on Sunday and was received by Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, alongside various other officials at the Presidential Flight terminal at Abu Dhabi International Airport.
The €4bn initiative will include sectors such as infrastructure, renewable and new forms of energy, health care and pharmaceuticals, food and agriculture, and logistics, Wam reported.
A deal was signed between Abu Dhabi holding company ADQ and the Hellenic Development Bank and the Hellenic Development Bank of Investments, by Mohamed Alsuwaidi, managing director and chief executive of ADQ, and Kostas Fragogiannis, deputy minister for economic diplomacy and openness at the Greek Ministry of Foreign Affairs.
Mubadala Investment Company and the Hellenic Development Bank of Investments also agreed to extend their partnership in a €400 million co-investment platform they established in 2018.
This was signed by Khaldoon Al Mubarak, managing director and group chief executive of Mubadala, and Antigoni Lymperopoulou, the chief executive of the Hellenic
Development Bank of Investments.
An agreement related to security co-operation and fighting organised crime and counterterrorism was signed by Dr Al Jaber and Panagiotis Theodorikakos, the Greek Minister of Citizen Protection. Dr Al Jaber also signed deals in the field of advanced industries and technology and standardisation with Greece’s Ministry of Development and Investments.
Dr Al Jaber, who is also the UAE’s Special Envoy for Climate Change, signed a deal with Konstantinos Skrekas, the Greek Minister of the Environment and Energy.
Adnoc signed a strategic framework agreement with Greece’s Motor Oil on supplying liquefied natural gas cargoes to Greece.
Clean energy company Masdar also signed an agreement on eco-island renewables deployment with Greece.
An economic co-operation agreement was signed by Abdulla bin Touq, Minister of Economy, and Adonis Georgiadis, the Greek Minister of Development and Investments, while Abdulrahman Al Owais, Minister of Health and Prevention, and Mina Gaga, Greek Alternate Minister of Health, also signed a deal.