ATHENS, Greece / RankWire.AI / – The UAE has increased its joint investment initiative with Greece by an extra €15 billion, nearly quadrupling the original program’s size. Announced on Thursday, October 22, during an official visit to Athens by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, this expansion marks a significant step forward. The initial initiative, launched in May 2022, was valued at €4 billion.
The Abu Dhabi Media Office stated that this additional funding aims to enhance the enduring economic relationship between the two nations. It will broaden collaboration in sectors regarded as strategic and development priorities by both governments. The 2022 initiative has already led to notable transactions in energy and healthcare, demonstrating how investment cooperation can generate mutual benefits. No specific timeline has been provided for the new commitment, officials said.
During his visit, the Crown Prince met with Kyriakos Mitsotakis, Greece’s Prime Minister, at his office in Athens. Their discussions centered on strengthening cooperation across energy, infrastructure, healthcare, and advanced technology sectors. The leaders also shared perspectives on regional and international issues, emphasizing the significance of security, peace, and stability. Earlier in the visit, Sheikh Khaled was greeted by Foreign Minister George Gerapetritis at Athens International Airport.
Forum agreements exceed €12.75 billion
On the same day, the UAE-Greece Strategic Forum convened government officials, business leaders, and chambers of commerce in Athens. Participants from both nations signed deals and commercial partnerships exceeding €12.75 billion. These agreements encompass digital infrastructure, advanced technology, AI, clean energy, industry, transportation, ports, healthcare, and food security. They complement the €15 billion investment commitment, with the event also featuring investment-matching sessions and business meetings.
Thani bin Ahmed Al Zeyoudi, UAE’s Minister of Foreign Trade, remarked that the combined commitments demonstrate growing confidence between the two countries. He emphasized that the focus now should be on translating this momentum into actionable projects. Alongside Mitsotakis, Deputy Foreign Minister Haris Theoharis and Dimitris Skalkos, chairman of Enterprise Greece, participated in the forum. The event also included panels dedicated to food security and partnerships in AI and emerging technologies.
Collaboration extends beyond monetary commitments
The UAE expressed that the expansion reflects its confidence in Greece’s economic potential. It highlighted Greece’s strategic geographical position as a bridge connecting European markets with regional and international ones. Both countries’ investment institutions and companies are expected to intensify cooperation on strategic projects. The initiative also aims to foster innovation and facilitate the exchange of expertise in sectors that support sustainable development.
This move follows other major UAE investment commitments across Europe this year. In September, the UAE endorsed a €40 billion investment package across Germany. It has also strengthened cooperation with Italy on trade and energy. The UAE described the Greek initiative as marking the beginning of a new phase of cooperation built on tangible achievements and a shared vision for future growth. It considers the expansion a notable milestone in their partnership.