The US State Department announced today that it was setting up the Abraham Fund - a $3 billion investment fund for economic cooperation between the US, Israel and UAE. The US said the money will be allocated for private sector investments and promoting initiatives for nurturing regional cooperation in the Middle East. Representatives of the three countries will open an economic cooperation office in Israel to define the targets of the fund and identify projects that can make an impact in regional development and bring about economic growth, raise the standard of living and create jobs. RELATED ARTICLES Israel and UAE sign agreement for 112 weekly flights Israel and UAE to sign entry visa waiver deal The US State Department said that the investments will be made in infrastructure, energy and agricultural projects. Published by Globes, Israel business news - en.globes.co.il - on October 20, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020
