EDB and ADB to jointly finance infrastructure projects in their member states

Almaty, 6 May 2013. On Friday, the Eurasian Development Bank (EDB), as the Resources Manager of the EurAsEC Anti-Crisis Fund (ACF), and the Asian Development Bank (ADB) signed a framework agreement on the joint financing of investment projects. The document was signed during the Annual Meeting of the ADB Board of Governors, which took place from 2 to 5 May in Delhi, India. The EDB delegation headed by Sergei Shatalov, Deputy Chairman of the Management Board, took part in this meeting.

The agreement envisages the provision of joint finance for projects in the countries that are members of both EDB and the ADB — Armenia, Kazakhstan, Kyrgyzstan and Tajikistan. The document sets the approximate volume of possible co-financing for the coming three years: up to US $715 million on the part of the ACF and up to $1.2 billion on the part of the ADB.