UAE - Mubasher: The UAE, the US, and Israel have established the Abraham Fund to promote regional economic cooperation and achieve prosperity in the Middle East, according to the Emirates News Agency (WAM).

Through the Fund, the UAE, the US International Development Finance Corporation, and Israel will allocate $3 billion for development and investment initiatives led by the private sector.

The Fund is part of the peace accord signed by the UAE and Israel with the United States’ support.

The three countries will open an Israel-headquartered development office to identify and implement strategic projects to promote economic growth, improve living standards, and create job opportunities.

In addition, the Fund will enable its members to launch investments that offer opportunities for the region's peoples and its youth, boost regional commerce, and ensure energy security.

The Fund will also improve agricultural productivity and facilitate reliable and efficient access to clean water.