ABU DHABI, 2nd May, 2016 (WAM) – The Khalifa Fund For Enterprise Development today signed an agreement with the Chechen government to develop a framework for investing in the development of micro-enterprises, and the small and medium business sector in the Republic of Chechnya, through establishing a fund similar to the work of the Khalifa Fund in Abu Dhabi.

The agreement was signed at the fund’s headquarters in Abu Dhabi by Hussein Jassim Al Nowais, Chairman of the Khalifa Fund for Enterprise Development and the Chechen Deputy Prime Minister, in the presence of Omar Saif Ghobash, UAE Ambassador to Russia, and Alexander Efimov, Russian Ambassador to the UAE, and a number of officials from both countries.

The agreement is being implemented on the directives of the UAE’s wise leadership and in the framework of joint efforts to enhance co-operation and strengthen friendly ties that bind the UAE and Chechnya in various fields.

WAM/Rasha/Majok