UAE’s ADQ to allocate $10 billion in investments in partnership with Egypt, Jordan – WAM

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(Reuters) -Abu Dhabi state holding firm ADQ will allocate $10 billion in investment for projects with Egypt and Jordan, the United Arab Emirates’ state news agency WAM reported on Sunday, citing the Industry and Advanced Technology Minister Sultan Al Jaber.

ADQ has become the leading vehicle for outbound investments from Abu Dhabi, managing about $110 billion in assets, according to Global SWF. It acquired a 45% stake in commodities trader Louis Dreyfus Co (LDC)in 2021.

(Reporting by Nayera Abdallah and Moataz Mohamed; Editing by Emelia Sithole-Matarise)