Kazakhstan receives $22 million loan from UAE

Published April 30th, 2001 - 02:00 GMT

The Abu Dhabi Development Fund agreed to loan Kazakhstan $22 million for the financing of a road construction project, reported the official WAM news agency on Saturday, April 28. It is the first such loan the United Arab Emirates makes to Kazakhstan.  


In 1998, the UAE and Kazakhstan signed an accord to increase investment and trade between the two countries, in addition to providing recruitment opportunities for Kazakh workers in the Emirates. Presently, labor in the UAE heavily relies on expatriate workforce, mainly from south Asia. — (Albawaba-MEBG) 


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