UAE-backed Strategic Investment Partnership to invest £10bn in UK
Abu Dhabi fund Mubadala signed an agreement at Downing Street on Thursday to significantly expand the UAE-UK Sovereign Investment Partnership, building on a framework for investment announced in March 2021.
Over the next five years, the UAE-UK SIP plans to drive a significant increase in investment across a further three sectors: technology, infrastructure and energy transition, as well as build on the existing programme of life sciences investment.
The announcement committed £10 billion ($13.7bn) to build on Mubadala’s £800 million commitment and the British government’s £200m to UK life sciences when the partnership was established in March.
The UAE-UK SIP will become the central investment platform under the new Partnership for the Future bilateral framework, which was also agreed on today at a meeting between UK Prime Minister Boris Johnson and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces.
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