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Tuesday 16 March 2021

UAE crown prince volunteered to invest $12M in Israel: Netanyahu

UAE crown prince volunteered to invest $12M in Israel: Netanyahu
Abu Dhabi's Crown Prince Mohammed bin Zayed Al-Nahyan speaks with U.S. Secretary of State Mike Pompeo (not pictured) during a meeting at Al-Shati Palace in Abu Dhabi, United Arab Emirates on Jan. 12, 2019. (Reuters File Photo)

Emirati Crown Prince M. bin Zayed Al Nahyan has "volunteered" to invest over $12 million in Israel, Israel's Prime Minister Benjamin Netanyahu said on Monday.

In an interview with the Israeli army radio, Netanyahu said Abu Dhabi's crown prince told him that he "wants to be a partner in projects which could enhance Israel's economy after the coronavirus [pandemic]."

So far, there has been no comment from the United Arab Emirates (UAE) on Netanyahu's statement.

On Thursday, Netanyahu postponed his official visit to the UAE due to difficulties that surfaced in coordinating the passage of his flight through Jordanian airspace.

Following the cancellation of the trip, UAE said it agreed to launch an investment fund worth of $10 billion in Israel, according to the official WAM news agency.

Trade volume between Dubai and the UAE has reached $300 million since the normalization.

Several bilateral agreements were signed in different fields following an Israel-UAE normalization deal last year.

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