UAE announces €15 billion investment initiative for Greece, with 18 agreements worth €12.75 billion signed in Athens

The United Arab Emirates announced new investments of €15 billion in Greece on the day Abu Dhabi’s Crown Prince, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, visited Athens and met Prime Minister Kyriakos Mitsotakis. It is a practical sign of the trust of a friend and ally in Greece, at a time when friends count more than ever.

A €15 billion investment initiative

According to the Abu Dhabi Media Office, as reported by The National, the new €15 billion expands the two countries’ bilateral joint investment initiative. The initiative began in May 2022 with €4 billion and, the office says, has provided an important framework for strategic investment in areas of common interest. It has also led to major deals in strategic sectors such as energy and healthcare. The announcement, according to the same office, “reflects the UAE’s confidence in Greece’s economic and investment advantages, its strategic position and its role in connecting European markets with regional and international ones”.

18 agreements at the Greece–UAE Strategic Forum

The same day, UAE Minister of State for Foreign Trade Dr Thani Al Zeyoudi wrote on X that at the UAE–Greece Strategic Forum in Athens, attended by Sheikh Khaled and Mitsotakis, 18 agreements were signed between UAE and Greek entities. Their value exceeds €12.75 billion and they cover digital infrastructure, artificial intelligence, renewable energy, logistics, health and food security, opening broader prospects for trade and investment cooperation.

The two figures come from different sources and are not the same: the €15 billion is the new investment commitment announced by Abu Dhabi, while the €12.75 billion is the value of the 18 agreements signed at the forum, according to the Emirati minister.

The meeting at the Maximos Mansion

Sheikh Khaled was received at Athens International Airport by Foreign Minister George Gerapetritis and then met Mitsotakis at the Maximos Mansion. The talks covered strengthening cooperation in energy, infrastructure, health and advanced technologies. The two leaders also exchanged views on regional and international developments and stressed the importance of strengthening security, peace and stability. After the meeting the prime minister wrote that the sides “confirmed the excellent relations and the mutual will to further deepen the strategic partnership between Greece and the United Arab Emirates”. More on the meeting itself is in our earlier report.

A friendship with depth since 2020

Greece and the UAE signed a strategic partnership agreement in Abu Dhabi in November 2020 that includes a clause of mutual military assistance in case of a threat to the territorial integrity of either country. Since then the countries’ armed forces have taken part in joint exercises, and Greek fighters have been stationed for training in the Emirates and Emirati ones in Greece. Sheikh Khaled is the son of UAE President Mohamed bin Zayed and has been Crown Prince of Abu Dhabi since 2023. He also heads the Abu Dhabi Executive Council, which oversees much of the emirate’s sovereign investment funds, which is why his presence in Athens carries strong economic weight.

Why it matters for Greece

The visit comes as the Emirates stand on the front line of the conflict with Iran, with attacks in the Strait of Hormuz and by the Houthis in Saudi Arabia. In that environment, a country that chooses to invest billions in Greece is sending a message of confidence in its stability and its role as a gateway to Europe.