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The UAE has set up a $ 10 billion fund to invest in specific sectors of Israel, including space, health, water, manufacturing, energy, and agricultural technology, WAM reported.

The agreement was reached following a phone talk between Prime Minister Benjamin Netanyahu and Crown Prince of Abu Dhabi, Sheikh Mohammed bin Zayed.

In an interview with Radio Haifa, Netanyahu explained the creation of the fund. He added that the fund will help give a boost to the Israeli economy.

This is the latest initiative resulting from the normalization of relations established by the Abraham Accords.

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