Ukraine counts on UAE wealth funds to build its economy

Ukraine counts on UAE wealth funds to build its economy

Ukraine has invited UAE sovereign wealth funds and companies to participate in the country’s economic transformation and building strategy as well as in strengthening trade cooperation between the two nations. During a meeting to discuss financial and humanitarian support as well as investments in recovery and bilateral cooperation, Ukraine’s Minister of Economy Yuliia Svyrydenko thanked the UAE for the humanitarian and financial aid it has extended to the Eastern European nation. Abu Dhabi Investment Authority and ADQ – UAE wealth funds with assets in industries such as rail and air transport, port logistics, full-cycle agriculture, medicine and pharmaceutical production, energy and innovative technologies were also in attendance. presented its economic transformation strategy to the UAE delegation and invited UAE funds to participate in the development of the Ukrainian Development Fund, a sovereign wealth fund initiative that has secured advisory support from BlackRock. The Ukrainian government said is counting on the UAE’s active participation in its economic transformation strategy. The UAE has sent Ukraine more than 230 tonnes of humanitarian aid – medicines, medical equipment, food – and 4 ambulances, according to a statement on Ukraine’s Government website. In April, the UAE transferred $4m for the construction of 10 orphanages and