DEFINITION of 'Emirates Investment Authority - EIA'
A state-owned investment fund established in 2007 by the United Arab Emirates government to invest in more than 30 corporations of the Gulf Cooperation Council (GCC). EIA's stated goals as a sovereign wealth fund are to achieve investment returns for the government and to diversify its asset exposure.
BREAKING DOWN 'Emirates Investment Authority - EIA'
The GCC is a political, economic, social and regional organization of six Persian Gulf member countries: Bahrain, Qatar, Kuwait, Oman, Saudi Arabia and the United Arab Emirates.
The United Arab Emirates is a wealthy, oil-rich federation that was formed in 1971 by the merger of seven states (Abu Dhabi, Ajman, Fujairah, Ras al-Khaimah, Dubai, Sharjah and Umm al-Quwain.)