ABU DHABI, 12 March, 2021 (TON): Just after Abu Dhabi’s Crown Prince and Israel’s FM had a telephonic conversation, the United Arab Emirates announced to fund $10 billion for investment in the Israeli strategic sectors, the media reported on Thursday.

“Through this fund, the UAE will invest in Israel within strategic sectors that include energy, manufacturing, water, space, health care, agricultural technology, and others,” the statement said.

“This move aims to strengthen economic relations between the two booming regional economies, open the way for investments, and create partnership opportunities to boost social and economic growth in the two countries and the region,” the statement added.

The phone call between Sheikh Mohammed bin Zayed Abu Dhabi Crown Prince and Israeli Prime Minister Benjamin Netanyahu led several issues into focus.

“This initiative is one of the results of the peace agreement and embodies the spirit of friendship and cooperation between the three countries, in addition to their common will to advance the region and provide a model for peace by improving the lives of the peoples of the region,” the statement said.

In September, both the countries signed the U.S. brokered a peace agreement that resulted in official relations between the two.

However, as UAE is the third Arab country to normalize relations with the Jewish country, both countries have already established friendly diplomatic relations, direct flights have been launched, alongside several trade visits have taken place as a result of the Abraham Accords.

And just now, this announcement of fund release is again a friendly hand extended on the part of the Kingdom to develop initiatives and enhancing sound economic cooperation between the two sides