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The Mubadala Foundation is to contribute 50 million dirhams ($13.6 million) to the Department of Culture and Tourism (DCT) Abu Dhabi towards developing the emirate’s cultural industry over five years.
The foundation, part of Abu Dhabi sovereign Mubadala Investment Company, signed the agreement to support multiple initiatives and institutions, including Louvre Abu Dhabi and Zayed National Museum, a statement said.
Homaid Al Shimmari, deputy group CEO and chief corporate and human capital officer at Mubadala, said: “By working together alongside Louvre Abu Dhabi and Zayed National Museum we will promote our cultural heritage to position Abu Dhabi as an international hub for sustainable tourism and culture.”
(Writing by Imogen Lillywhite; editing by Brinda Darasha)
