Abu Dhabi, Sep 7 - The United Arab Emirates (UAE) finance ministry has set up a special unit to manage public debt, WAM news agency reported Monday.

The Public Debt Management Unit will, among other things, be responsible for the development of strategies for debt and risk management and refer these strategies to the cabinet.

According to a press release by the ministry, the setting up of the Public Debt Management Unit soon reflects the UAE's determination to lay the ground for the development of a healthy market for debt to provide finance at lowest cost and risk.