The inaugural flight took off on Thursday, May 2, according to Indian media outlets
uae9 hours ago
The United Arab Emirates, the United States of America, and Israel, have announced the establishment of the Abraham Fund, which fulfills a commitment made in the Abraham Accords.
Through this fund, the UAE, the US International Development Finance Corporation, and Israel will mobilise more than $3 billion in private sector-led investment and development initiatives to promote regional economic cooperation and prosperity in the Middle East and beyond. The partners welcome participation from other countries to advance these objectives.
This initiative is an integral part of the historic peace accord signed by the UAE and Israel with the United States' support, and demonstrates the benefits of peace by improving the lives of the region's peoples. It is a manifestation of the new spirit of friendship and cooperation between the three countries, as well their common will to advance the region.
The countries will trilaterally open a development office based in Israel to identify and initiate strategic projects with a high developmental impact, including those that catalyse economic growth, improve standards of living, and create high-value, quality jobs.
The fund will enable its members to launch people-focused investments, providing opportunity and hope for the region and its youth by enabling them to build a future that serves them and their communities. The UAE, the US, and Israel believe that this initiative will create the foundation for stronger regional cooperation based on diversity, exchange, and shared humanity.
The Abraham Fund will bolster regional trade, enable strategic infrastructure projects, and increase energy security through the provision of reliable and affordable access to electricity. The fund also aims to improve agricultural productivity and facilitate reliable and efficient access to clean water in the region.
Ahmed Ali Al Sayegh, UAE Minister of State, stated that the fund "reflects the desire of the three countries to put the wellbeing of people first, regardless of their creed or identity." He added that the UAE "is confident the initiative can be a source of economic and technological strength for the region, while simultaneously improving the lives of those who need the most support."
"The Abraham Fund will tackle challenges facing the region and increase economic opportunity for everyone," said Adam Boehler, CEO of the US International Development Finance Corporation. "We are excited to take this historic partnership to the next level to promote shared prosperity."
"The Abraham Fund we are launching today will be an essential tool in the realisation of the vision of our leaders to enhance regional cooperation," said Ronen Peretz, Director-General of the Israeli Prime Minister's Office. "It will support the ingenuity of our entrepreneurs, it will produce the necessary menu of financial tools and it will provide the facilitation of our governments. The combination of business, finance, and government is essential in the creation of projects on the ground."
The inaugural flight took off on Thursday, May 2, according to Indian media outlets
uae9 hours ago
The former security guard set for international debut after famously taking the wicket of Steve Smith with his first ball in Test cricket in January
sports9 hours ago
Mohammed Fattah Al Burhan Rahmane was riding his motorbike in Ankara in March when he collided with a utility vehicle
mena10 hours ago
Those who do not have permits will be directed to return to their point of origin, the Directorate of Public Security said
asia10 hours ago
Nijjar, 45, was shot dead outside a Sikh temple on June 18 in Surrey, a Vancouver suburb
world10 hours ago
The two-time Grand Slam champion, who won the US Open in 2022 and Wimbledon last year, turns 21 on Sunday
sports11 hours ago
Turkish president says the move is also aimed at increasing the amount of humanitarian aid entering Gaza
mena11 hours ago
In another case at the same airport, officials apprehended five foreign nationals who tried to smuggle gold worth Rs.24.4 million
asia11 hours ago