Abu Dhabi Fund for Development and Kazakhstan are exploring the possibility of investing in new infrastructure projects to boost ties, the fund said on Wednesday.
The development came following a meeting between Khalifa Al Qubaisi, the deputy director-general of Abu Dhabi Fund for Development and Zhaslan Madiyev, deputy chairman of the Agency for Strategic Planning and Reform of Kazakhstan.
“As we discussed ways to further expand our co-operation in terms of economic development, we also explored potential areas for investment that would benefit our countries as we move forward,” Mr Al Qubaisi, said. The fund did not provide further details on where it plans to co-invest or what types of projects it is focusing on.
ADFD has ties with Kazakhstan since 2001. It earlier granted concessional loans worth Dh75 million ($20.42m) for two projects in the social services and transport sectors.
The Abu Dhabi-based organisation, which is an autonomous national entity affiliated with the emirate’s government, is also financing other projects across the world.
Last month, it signed a series of agreements with Turkmenistan to create a joint investment company and assess the feasibility of backing a chemical complex, among other projects.
The joint company, which has a $100m capital target, will invest in sectors such as energy, agriculture, tourism and industry, the fund said in February. It will have initial capital of $16m that will be jointly provided by ADFD and Turkmenistan's government.
The fund also completed renewable energy projects worth Dh117.3m last year in Cuba, Somaliland, the Bahamas, Barbados and Saint Vincent and the Grenadine.
Abu Dhabi clean energy company Masdar is also exploring renewable energy opportunities in Kazakahstan and signed an agreement with the country's sovereign wealth fund Samruk-Kazyna last month.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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SPECS
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Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”
RESULTS
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Cheeseburger%20ingredients
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Day 5, Dubai Test: At a glance
Moment of the day Given the problems Sri Lanka have had in recent times, it was apt the winning catch was taken by Dinesh Chandimal. He is one of seven different captains Sri Lanka have had in just the past two years. He leads in understated fashion, but by example. His century in the first innings of this series set the shock win in motion.
Stat of the day This was the ninth Test Pakistan have lost in their past 11 matches, a run that started when they lost the final match of their three-Test series against West Indies in Sharjah last year. They have not drawn a match in almost two years and 19 matches, since they were held by England at the Zayed Cricket Stadium in Abu Dhabi in 2015.
The verdict Mickey Arthur basically acknowledged he had erred by basing Pakistan’s gameplan around three seam bowlers and asking for pitches with plenty of grass in Abu Dhabi and Sharjah. Why would Pakistan want to change the method that has treated them so well on these grounds in the past 10 years? It is unlikely Misbah-ul-Haq would have made the same mistake.
