UAE announces $10 billion fund for investments in Turkey

DUBAI: The United Arab Emirates has announced a $10 billion fund for investment in Turkey, the official Emirati news agency WAM said.

The announcement comes after Abu Dhabi’s Crown Prince Sheikh Mohamed bin Zayed Al Nahyan held talks with Turkish President Recep Tayyip Erdogan in Ankara on Wednesday, opening a new chapter in relations between the two countries.

WAM said that the move was “to support the Turkish economy and boost bilateral cooperation between the two countries”.

It added that the main focus will be on “strategic investments”, especially in sectors including energy, health and food.

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