UAE and Greece announce €12.75 billion in deals
The United Arab Emirates and Greece have announced 18 memoranda of understanding, agreements and commercial partnerships worth €12.75 billion, while Abu Dhabi has pledged a further €15 billion in planned investments in Greece, according to Reuters.
The announcements were made on Thursday at the UAE-Greece Strategic Forum in Athens, attended by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Greek Prime Minister Kyriakos Mitsotakis.
The additional investment plan builds on an existing joint investment initiative between the two countries, the Abu Dhabi Media Office said, although specific projects and the allocation of the new funds were not disclosed.
Cooperation to expand across key sectors
Sheikh Khaled and Mitsotakis also held talks on strengthening bilateral cooperation, with energy, infrastructure and healthcare among the areas discussed.
The agreements are intended to deepen economic ties between the two countries and expand opportunities for investment and commercial partnerships.
The announcement of the additional €15 billion comes as both governments seek to build on existing cooperation and attract further investment into the Greek economy.
Investment partnership builds on €4 billion commitment
The new investment plan follows a €4 billion commitment made in 2022 under a joint initiative between the UAE and Greece, according to the Abu Dhabi Media Office.
The latest announcement signals a further expansion of the partnership, although the authorities have yet to provide a detailed breakdown of the planned investments or their implementation timetable.
Masdar strengthens UAE presence in Greece
The UAE has already established a significant presence in Greece’s energy sector.
Last year, renewable energy company Masdar completed its acquisition of Greek company Terna Energy after purchasing a 70% stake in 2024, at an enterprise value of €3.2 billion, Reuters reported.
The transaction highlighted the role of renewable energy in bilateral investment ties and provided a major example of UAE capital entering the Greek market.
The latest agreements and proposed investments could further strengthen economic cooperation between Athens and Abu Dhabi, with implementation details expected to determine the scale and timing of their impact.
Source: Kathimerini
