ATHENS, Greece / RankWire.AI / – Expanding on its previous efforts, the UAE has increased its joint investment initiative with Greece by an extra €15 billion, nearly quadrupling the original programme size. The announcement was made on Thursday, October 22, during an official visit to Athens by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi. The project was initially launched in May 2022 with a total of €4 billion.
As reported by the Abu Dhabi Media Office, this extra funding aims to reinforce the long-term economic alliance between the two nations. It will foster collaboration in sectors that both governments view as strategic and vital for development. The 2022 initiative has already facilitated significant deals in energy and healthcare, demonstrating how investment partnerships can generate mutual benefits. No specific timeline was provided for the implementation of the new investment commitment.
During his visit, the Crown Prince met with Kyriakos Mitsotakis, the Greek Prime Minister, at his office in Athens. Their discussions emphasized strengthening cooperation in areas such as energy, infrastructure, healthcare, and advanced technology. The leaders also exchanged perspectives on regional and international issues, emphasizing the importance of security, peace, and stability. Earlier in the visit, Sheikh Khaled was welcomed at Athens International Airport by Foreign Minister George Gerapetritis.
Deals at the forum exceed €12.75 billion
On that same day, the UAE-Greece Strategic Forum convened government officials, business executives, and chambers of commerce in Athens. Representatives from both countries signed agreements and partnerships valued at over €12.75 billion. These deals cover a broad range of sectors including digital infrastructure, innovative technology, AI, renewable energy, manufacturing, transportation, ports, healthcare, and food security. This is in addition to the €15 billion investment pledge. The event featured sessions focused on matching investors with projects and numerous business meetings.
Thani bin Ahmed Al Zeyoudi, the UAE Minister of Foreign Trade, stated that these combined commitments reflect increasing confidence between the two nations. He added that the next step will be to transform this momentum into tangible projects. Mitsotakis participated in the forum along with Deputy Foreign Minister Haris Theoharis. Dimitris Skalkos, chairman of Enterprise Greece, was also present. The discussions included panels on food security as well as collaborations in AI and emerging technologies.
Strategic partnership moves beyond financial contributions
The UAE emphasized that the expanded cooperation underscores its trust in Greece’s economic potential. The country highlighted Greece’s geographical importance as a bridge connecting European markets with regional and global economies. Investment firms and corporations from both sides are expected to enhance their partnership on key projects. The initiative also aims to boost innovation and facilitate knowledge exchange in sectors that promote sustainable growth.
This development follows other major UAE investments in Europe this year. In September, the UAE supported a €40 billion investment package across Germany. Additionally, it has strengthened cooperation with Italy in trade and energy sectors. The UAE described the Greek initiative as signaling the beginning of a new phase of collaboration rooted in concrete achievements and a shared vision for the future. The expansion is regarded as a key milestone in the evolving partnership.