The UAE set to invest up to $14bn in post-Brexit UK
Al Jazeera
The UAE and the UK are taking steps toward stronger economic ties, with the UAE pleding to invest up to $14bn in post-Brexit UK.
The United Arab Emirates will invest 10 billion pounds ($14 billion) in post-Brexit Britain, targeting infrastructure, clean energy and technology over the coming years as the Gulf state seeks to strengthen trade ties beyond the Middle East.
The pledge came during the visit of de facto ruler Sheikh Mohammed bin Zayed Al Nahyan to London and was unveiled by Abu Dhabi wealth fund Mubadala Investment Co., which has $243 billion under management, and the U.K. Office for Investment.
The U.K. is looking to beef up its trading relationships further afield as part of its pivot away from Europe. Earlier, the government in London said the UAE will invest $690 million in U.K.-based CityFibre to roll out high-speed broadband.
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