Abu Dhabi Fund for Development and Kazakhstan Explore Means to Strengthen Strategic Partnership

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Visit of the Kazakh official complements our strong ties, says ADFD Deputy Director General

Abu Dhabi: His Excellency Khalifa Al Qubaisi, Deputy Director General of Abu Dhabi Fund for Development, received at the Fund’s headquarters HE Zhaslan Madiyev, Deputy Chairman of the Agency for Strategic Planning and Reform of Kazakhstan. The meeting was attended by Mr. Rashed Al Kaabi, Director of Investment Department at ADFD and senior Kazakh government officials. They explored ways to develop the strategic and mutually beneficial relations, especially through infrastructure and investments projects.

HE Al Qubaisi highlighted the relations between the Fund and the government of Kazakhstan that had withstood the test of time. He pointed out that the Fund had supported Kazakhstan in its effort to achieve its sustainable development goals through financing strategic projects.

He added that the visit of HE Madiyev complemented the strong relations between the two. “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 Madiyev explained that the Fund’s efforts were a testimony to the UAE’s commitment to promote 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.

Abu Dhabi Fund’s ties with Kazakhstan dates back 2001, when the Fund extended concessional loans for two projects worth AED 75 million to boost social services and transport sectors. The projects not just improve the quality of life, but also helped the government to meet its sustainable development objectives.

About Abu Dhabi Fund for Development (ADFD)

Abu Dhabi Fund for Development (ADFD) is a leading national entity for economic development aid owned by the Abu Dhabi government. Established in 1971, it aims to help emerging countries by providing concessionary loans to finance sustainable development projects as well as administering long-term investments and direct contributions. In addition to managing development grants offered by the Abu Dhabi government, ADFD has adopted a policy of supporting the national economy and financing UAE private sector investments. Since its inception, ADFD has marked developmental milestones in 97 developing countries. Spanning the last 49 years, the Fund’s development projects and investments, valued at AED104 billion, have helped the international community achieve sustainable economic growth as well as drive the implementation of the United Nations’ Sustainable Development Goals (SDGs).