Israel, UAE, US launch joint fund in Jerusalem during first state visit

The fund “is a manifestation of the new spirit of friendship and cooperation between the three countries, as well as their common will to advance the region,” a statement from the US Embassy in Israel said.

By LAHAV HARKOV

OCTOBER 20, 2020 13:00

The US, Israel and the United Arab Emirates announced the establishment of a joint regional development fund based in Jerusalem during the first-ever visit of a government delegation from Abu Dhabi in Israel on Tuesday.

The Abraham Fund – derived from the Abraham Accords, as the peace between Israel and the UAE and Bahrain is known – will be launched with an office in Jerusalem and a $3 bn. starting trilateral investment to promote economic cooperation and prosperity in the Middle East and North Africa.

The fund “is a manifestation of the new spirit of friendship and cooperation between the three countries, as well as their common will to advance the region,” a statement from the US Embassy in Israel said.

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