Abu Dhabi's state-owned holding company ADQ will allocate $10 billion in investments for projects with Egypt and Jordan, the United Arab Emirates state news agency WAM reported Sunday, citing Industry and Advanced Technology Minister Sultan Al Jaber.

According to Global SWF, ADQ has become Abu Dhabi's leading outbound investment vehicle, managing about $110 billion in assets. In 2021, it acquired a 45% stake in commodities trader Louis Dreyfus Co.

The partnership will focus on areas of mutual interest, including agriculture, pharmaceuticals, minerals, petrochemicals and textiles, Reuters reported.