Manama : Bahrain and the UK committed to a £1 billion ($1.3 billion) round of investments in Britain on Monday at a meeting between Crown Prince Salman bin Hamad Al Khalifa and British Prime Minister Rishi Sunak.
The agreement signed at Downing Street aims to take the historic ties between the two countries to new levels.
Prince Salman looked on as Bahrain’s Foreign Minister Shaikh Salman bin Khalifa Al Khalifa signed the agreement to establish a Strategic Investment and Collaboration Partnership, which is designed to unleash billions for the UK economy through Bahraini private sector investment.
The country’s sovereign wealth fund Mumtalakat as well as Investcorp, GFH Financial Group and Osool Asset Management are expected to participate.
“The leaders welcomed the signing of a new Strategic Investment and Collaboration Partnership today between the UK and Bahrain,” a statement from Downing Street said.
“The agreement aims to facilitate additional investment of more than £1 billion into the UK, support the diversification of Bahrain’s economy and drive greater co-operation between our countries in clean technology, business services and manufacturing.
“The Prime Minister said the agreement marks the next chapter the historic and close relationship between the UK and Bahrain, which spans security, defence and trade.”
