UAE, Greece sign several MoUs including $4.2 bln investment initiative

The Crown Prince of Abu Dhabi, Sheikh Mohammed bin Zayed Al Nahyan and Prime Minister of Greece Kyriakos Mitsotakis attended the signing of several agreements and memorandums of understanding (MoUs) on Monday, the state news agency WAM reported.

The agreements MoUs were in the fields of investment, renewables, healthcare, advanced industries and technology, and other vital sectors, according to WAM.

The Greek prime minister was accompanied by several members of Greece’s Cabinet, including Minister of Development and Investments, Adonis Georgiadis, and Minister of the Environment and Energy Konstantinos Skrekas.

During their meeting, Sheikh Mohammed and Mitsotakis discussed enhancing cooperation between their countries and expanding the strategic partnership between the UAE and Greece, WAM reported.

The two leaders reviewed opportunities to advance their relations, especially in the economic, investment, developmental, environmental and energy fields, and looked at expanding their partnership in renewables and food security.

The leaders also exchanged views on a number of regional and global issues of mutual concern and relevant developments, including the Ukraine crisis, according to WAM.

The MoUs and agreements signed included:

• An MoU on security cooperation, fighting organized crime and counter terrorism.
• An MoU to establish a $4.2 billion Investment Initiative to facilitate investments in the Greek economy across a wide range of sectors.
• A Strategic Framework Agreement between Motor Oil and the Abu Dhabi National Oil Company (ADNOC) to explore opportunities to supply LNG cargoes to Greece, as well as explore other cooperation opportunities between the two sides.
• An MoU between Masdar and Motor Oil to cooperate on decarbonising the energy market in Greece.
• An MoU between Mubadala Investment Company and the Hellenic Development Bank of Investments (HDBI) to extend their partnership in the €400 million co-investment platform.