Prime Minister of the Republic of Kazakhstan Olzhas Bektenov held a meeting with Farookh Al Marzooqi, Chairman of the Board of Directors of Abu Dhabi Commercial Bank Kazakhstan (ADCB).

Abu Dhabi Commercial Bank is one of the largest banks in the UAE and holds investment-grade international credit ratings.

The parties discussed the further expansion of ADCB Group's participation in implementing projects vital to the country. Priority areas of cooperation include the development of the real sector of the economy and the modernisation of digital infrastructure.

During the meeting, the importance of Kazakhstan's large-scale economic and institutional reforms was highlighted, as they continue to enhance the country's investment appeal. Under instructions from President Kassym-Jomart Tokayev, a new investment cycle has been launched alongside a proactive approach to attracting investors.

The Prime Minister emphasized the UAE's contribution to the development of the Kazakh economy. Over the past 20 years, Emirates investment in Kazakhstan has exceeded $7 billion, with nearly $3 billion arriving in the last two and a half years alone. The participation of ADCB Group in attracting investors from the UAE and other Middle Eastern nations will help expand and diversify foreign financing sources for projects in Kazakhstan.

For his part, Farookh Al Marzooqi underscored the fruitful cooperation with Kazakhstan in financing energy and railway infrastructure projects, as well as advancing agreements in petrochemicals, transport, and logistics. Over the past 15 years, ADCB Kazakhstan has provided financial support to more than 100 business initiatives, 90% of which represent SME projects. Farookh Al Marzooqi announced plans to triple the financing volume for Kazakh projects over the next 18 months from its current level of 2.5 trillion tenge.

Following the discussion, the participants reaffirmed their mutual interest in further developing beneficial cooperation.

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