A joint statement from the UAE, Israel and the US sent out by the US embassy in Israel announces the creation of a fund to funnel investment to projects that “promote regional economic cooperation and prosperity in the Middle East and beyond.”
The announcement of the Abraham Fund, long on platitudes and short on details, puts the size of the kitty at more than $3 billion, though it is unclear if that has been pledged or is a goal.
“The fund will enable its members to launch people-focused investments, providing opportunity and hope for the region and its youth by enabling them to build a future that serves them and their communities,” the statement reads.
“The partners welcome participation from other countries to advance these objectives.”
As part of the fund, which was included in the Abraham Accords, the three countries will open a development office in Israel.
“The Abraham Fund will tackle challenges facing the region and increase economic opportunity for everyone,” Adam Boehler, CEO of the US International Development Finance Corporation, says in the statement. “We are excited to take this historic partnership to the next level to promote shared prosperity.”
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
From the Liveblog of
Tuesday, October 20, 2020
Add ToI as a Preferred Source on Google
