UAE to help Ukraine create sovereign wealth fund – Zelensky's office

The United Arab Emirates will help Ukraine create a sovereign wealth fund, which will involve the experience and expertise of one of the world's largest sovereign wealth funds, ADQ, and their consultants, Contango.

The press service of the Office of the President of Ukraine reported this after a meeting between Andriy Yermak, the head of the office, and a delegation of the UAE led by Mariam Almheiri, the Minister of Climate Change and Environment of the UAE, Head of the Office of International Affairs under the President of the UAE.

"During the visit of the United Arab Emirates delegation, an agreement was also reached that the UAE would help Ukraine create a sovereign wealth fund. This will involve the experience and expertise of one of the world's largest sovereign wealth funds, ADQ, and their consultants, Contango," the report said.

The meeting focused on the implementation of the Ukrainian Peace Formula and the possibility of the Emirates joining the implementation of its individual points, in particular, on ensuring food, radiation and nuclear security and preventing ecocide.

The parties also touched upon the issue of further expansion of Ukrainian-Emirati cooperation, in particular in the trade, economic and investment spheres.

Yermak thanked Almheiri for the assistance that the UAE has already provided and continues to provide to Ukraine.

"We have very cordial relations that are only getting stronger. It is very important that you can personally see the struggle of Ukrainians and feel how strong our people are," he said.

Yermak said that Ukraine is confident of its victory, which will be a victory "not only for our country and its people, but also for the entire civilized community, justice and international law."

He drew attention to the environmental and humanitarian consequences of the act of terrorism committed by the Russian Federation at the Kakhovka hydroelectric power plant, spoke about the urgent needs of Ukraine and called on the UAE to join the efforts of the international community to eliminate the consequences of this man-made disaster.