Abu Dhabi Fund, Kazakhstan explore ways to boost strategic partnership

By Shilpa Annie Joseph, Desk Reporter
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UAE’s leading financial entity, Abu Dhabi Fund for Development (ADFD) and Agency for Strategic Planning and Reforms of the Republic of Kazakhstan have discussed the possibilities to develop strategic and mutually beneficial relations, especially through infrastructure and investment projects.

Mr. Khalifa Al Qubaisi, Deputy Director-General of ADFD, has reinforced the Fund’s long-standing relationship with Kazakhstan’s government during the meeting held at Fund’s headquarters. He further emphasized that the Fund has backed Kazakhstan in achieving its sustainable development goals by funding strategic projects.

Mr. Al Qubaisi noted that the visit of Mr. Zhaslan Madiyev, Deputy Chairman of the Agency for Strategic Planning and Reform of Kazakhstan, has complemented the strong relations between the two entities.

“More importantly, it presented an opportunity for the concerned parties to reinforce and develop their relations and expand cooperation through promotion of joint investments. As we discussed ways to further expand our cooperation in terms of economic development, we also explored potential areas for investment that would benefit our countries as we move forward,” he further added.

Mr. Madiyev has stated that the Fund’s efforts were a testimony to the UAE’s commitment to promoting sustainable development goals all over the world, as he expressed Kazakhstan’s desire to develop the relations with the Fund in the interest of both the UAE and his country.

The Abu Dhabi Fund has relationship with Kazakhstan since 2001 when it provided concessional loans for two projects totaling $20 million (AED75 million) to support the country’s social services and transportation sectors.

Last month, Abu Dhabi Fund has signed a series of agreements with Turkmenistan to establish a joint investment company and assess the feasibility of supporting a chemical complex, among other projects.

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