The United Arab Emirates plans to invest £10 billion in Britain over the next five years, targeting sectors including clean energy, infrastructure, technology and life sciences.
Mubadala, an Abu Dhabi sovereign wealth fund, made the investment commitment today, saying it would “help accelerate funding and innovation in key sectors that are foundational to economic growth” of both the UK and UAE.
The announcement was made as Abu Dhabi’s Crown Prince Mohammed bin Zayed al-Nahyan visited Boris Johnson in London.
The fund marks an expansion of Mubadala’s Sovereign Investment Partnership with Britain’s Office for Investment, agreed earlier this year. In March, Mubadala pledged to invest £800 million in life sciences with Britain’s investment office, which said it was contributing an additional £200 million.
Since then more than £1.1 billion has been deployed, including about £500 million in UK-based CityFibre to provide high-speed broadband. Other sectors the fund has invested in include … Read more