Abu Dhabi Fund for Development (ADFD) has joined in a roundtable meeting of the Arab Coordination Group (ACG) in Astana, marking the first-ever formal engagement between the ACG and Kazakhstan.
Key members of ACG include ADFD, the Islamic Development Bank (IsDB), the Saudi Development Fund, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, and the Qatar Fund for Development.
The members emphasized the critical role of ACG in supporting Kazakhstan’s social and economic reforms by encouraging an increase in financing for projects that align with the nation’s development goals.
During the session, the Government of Kazakhstan presented key projects that are part of the National Infrastructure Plan until 2030, including major initiatives in the modernization and technological development of the water resources management sector. Also discussed was the possibility of ACG providing $7 billion in financing 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 and conveyed their willingness, in principle, to consider participating in the financing of these priority projects. The parties acknowledged the importance of implementing these projects to advance Kazakhstan’s industrial modernization and overall infrastructural growth. These initiatives will boost the country’s economy and create jobs.
Mohamed Saif Al Suwaidi, Director-General of ADFD, highlighted strong relations between the UAE and Kazakhstan, saying that collaboration is at the heart of 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,” Al Suwaidi added.
It was agreed at the meeting that the Ministry of National Economy of Kazakhstan would serve as the point for coordinating with ACG, ensuring the smooth implementation of the agreements reached during the meeting.
