The UAE and Brazil have signed a landmark agreement at the 17th BRICS Summit to establish a development investment fund worth more than $100bn—the largest of its kind among BRICS countries.
The deal was signed between Abu Dhabi Investment Group (ADIG) and Banco do Brasil marking a major step in strengthening UAE-Brazil economic relations.
The UAE delegation was led by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, who met with President Luiz Inácio Lula da Silva of Brazil to reinforce the strategic ties between the two nations.
UAE and Brazil deal
The investment fund, valued at over $100bn, will be channelled into vital sectors including:
- Industry and agriculture
- Real estate and infrastructure
- Renewable energy and recycling
- Healthcare, education, and training
- Transport, technology, retail, and trade
- Public debt instruments and food security
The signing was witnessed by Zayed bin Rashid bin Aweidha Al Qubaisi, CEO of ADIG, and Tarciana Medeiros, President of Banco do Brasil, Latin America’s largest financial institution.
The agreement reflects the UAE’s ambition to drive sustainable development globally and follows discussions held earlier at the G20 Summit in Rio de Janeiro between Zayed bin Rashid bin Aweidha Al Qubaisi and President Lula da Silva.
Zayed bin Rashid bin Aweidha Al Qubaisi described the deal as a testament to the UAE’s “firm commitment to international economic cooperation,” particularly with BRICS nations.
He praised the United Arab Emirates leadership’s vision in positioning the country as a reliable partner for global growth.
Beyond its immediate economic impact, the fund is expected to serve as a model for sustainable, high-impact investment across the BRICS bloc and beyond—enhancing the UAE’s international role in shaping the future of the global economy.
