ADFD Participates In Landmark Arab Coordination Group Meeting With Kazakhstan

The Abu Dhabi Fund for Development (ADFD) recently took part in a roundtable meeting of the Arab Coordination Group (ACG) in Astana. This meeting, held at the invitation of Kazakhstan's government, marked the first formal engagement between ACG and Kazakhstan.

Key members of ACG include ADFD, the Islamic Development Bank (IsDB), Saudi Development Fund, Kuwait Fund for Arab Economic Development, OPEC Fund for International Development, and Qatar Fund for Development. These members highlighted the importance of ACG in supporting Kazakhstan’s social and economic reforms by increasing financing for projects that align with the nation’s development goals.

During the session, Kazakhstan's government presented key projects under its National Infrastructure Plan until 2030. These projects include significant initiatives aimed at modernising and technologically advancing the water resources management sector. Additionally, discussions covered the potential provision of US$7 billion by ACG to support basic infrastructure and social projects in Kazakhstan.

The ACG delegations expressed their appreciation for Kazakhstan’s efforts in socio-economic and infrastructural development. They conveyed their willingness, in principle, to consider participating in financing these priority projects. The parties acknowledged that implementing these projects is crucial for advancing Kazakhstan’s industrial modernisation and overall infrastructural growth.

Mohamed Saif Al Suwaidi, Director-General of ADFD, spoke at the meeting about the strong relations between the UAE and Kazakhstan. He emphasised that collaboration is central to ADFD’s mission as it aligns its priorities with those of its partners to ensure lasting benefits and positive change. "Our shared commitment to development, sustainability, and the well-being of our people forms the foundation of our stronger, more resilient partnerships within the ACG framework," he added.

The meeting concluded with an agreement that Kazakhstan's Ministry of National Economy would serve as the coordination point with ACG. This arrangement aims to ensure smooth implementation of agreements reached during the meeting.

The initiatives discussed are expected to boost Kazakhstan’s economy significantly and create jobs. The focus on industrial modernisation and infrastructural growth will play a vital role in achieving these outcomes.

With inputs from WAM