Abu Dhabi sovereign wealth fund Mubadala Investment Company has signed a memorandum of understanding with Greece’s New Economy Development Fund (Taneo) to develop a co-investment platform worth €400 million ($493 million).
The platform will focus on investment opportunities in key sectors of the Greek economy, according to the funds.
Taneo and Mubadala will provide €200 million each to the platform and share knowledge to strengthen diplomatic and trade relations between the UAE and Greece, according to the terms.
The agreement represents “the first step towards wider cooperation between Mubadala and Taneo” and will “facilitate the growth of resilient businesses in key areas of the Greek economy,” said Greece’s deputy prime minister and minister of economy and development, Yannis Dragasakis.
“The Greek economy has demonstrated its resilience in recent years and many sectors are now demonstrating robust growth,” said Khaldoon Khalifa Al Mubarak, group chief executive and managing director of Mubadala.
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