UAE establishes $817mln fund to support space sector

The fund aims to supporting the establishment of national companies in the space sector

Moataz Mohammed, Reuters News

July 17, 2022

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CAIRO - The United Arab Emirates on Sunday launched a 3 billion UAE dirham ($816.84 million) fund to support its space programme and a new initiative to develop radar satellites, the Gulf country's president Sheikh Mohammed bin Zayed al-Nahyan said on Twitter.

Dubai ruler Sheikh Mohammed bin Rashed, meanwhile, said the fund aims to supporting the establishment of national companies in the space sector and boost national strategic and research projects.

(Reporting by Moataz Mohammed, Writing by Yasmin Hussein, Editing by David Goodman)

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