UAE establishes $817 mln fund to support space sector

The United Arab Emirates on Sunday launched a 3 billion UAE dirham ($816.84 million) fund to support its space program and a new initiative to develop radar satellites, Dubai ruler Sheikh Mohammed bin Rashed said on Twitter.

"The establishment of a dedicated fund to support the UAE’s burgeoning space program and the launch of a new initiative to develop radar satellites are expected to expand our growing capabilities in this vital sector while accelerating innovation in environmental sustainability,"  the Gulf country's president Sheikh Mohammed bin Zayed al-Nahyan said on Twitter.