18:41 EDB negotiates alterations and amendments to the terms and conditions of the third tranche of the EFSD financial credit to Armenia
16:19 EDB: IFRS financial statements for 2016 show a significant increase in net income
17:41 KASE admits EDB to trade in securities and derivatives
EDB negotiates alterations and amendments to the terms and conditions of the third tranche of the EFSD financial credit to Armenia
Experts from Eurasian Development Bank (EDB), which is the Resources Manager of the Eurasian Fund for Stabilisation and Development (EFSD, Fund), headed by Alisher Mirzoyev, Project Team Director, visited Yerevan from 6 to 9 February 2017 to negotiate alterations and amendments to the terms and conditions of the third tranche of the EFSD financial credit (US $100 million). The delegation met with Vache Gabrielyan, Vice Prime Minister of Armenia, and representatives of the involved ministries and authorities, the Central Bank and international financial institutions
Eurasian Development Bank (EDB) published its financial statements for 2016 prepared in accordance with the International Financial Reporting Standards (IFRS). In 2016, the Bank's net income totalled US $163.5 million, compared to a net loss of US $143.6 in 2015.
The net interest income before provisions for impairment losses on interest bearing assets amounted to US $109.2 million, a US $16.3 million (17.6%) increase year-on-year. This was achieved, in the first place, due to:
- a significant decrease in interest expenses, from US $133.1 million to US $84.3 million (36.7%), as a result of the repurchase of the Bank's securities in the end of 2015 and during 2016; and
- an increase in interest income on financial assets available for sale from US $4.9 million in 2015 to US $18.5 million in 2016.
In 2016, EDB worked to improve the reliability of its loan portfolio and, as a result, recovered the previously created provisions for impairment losses in the amount of US $54.5 million.
The Kazakhstan Stock Exchange's (KASE) Management Board passed a resolution to admit Eurasian Development Bank (EDB) to trade in securities and derivatives at KASE from 10 February 2017
International development banks (IDBs) have been expanding actively their operations in the CIS countries. The finance they extended in Q4 2016 totalled US $4.4 billion, a 130% increase on the previous quarter. This finding is presented in the review Summary of Investment Operations by International Development Banks in Q4 2016 in the CIS Countries, Namely Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan distributed by Eurasian Development Bank’s Strategic and Sector Research Department. The report states that IDBs primarily focused on the energy sector
The persistently low inflation rates and moderate dollarisation of the EAEU economies pave the way for further successful integration
Without ensuring lower inflation and its lower volatility, securing trust for the national currencies, decreasing dollarisation, and devising responsible fiscal policies, any further efforts to coordinate monetary policies will be inefficient. These findings are presented in Monetary Policy of EAEU Member States: Current Status and Coordination Prospects, a report prepared by Eurasian Development Bank’s Centre for Integration Studies and the Macroeconomic Policy Department of the Eurasian Economic Commission
Eurasian Development Bank (EDB) and the Industrial Metallurgical Holding (IMH) signed a loan agreement to boost iron ore outputs. The document was signed by Konstantin Limitovsky, Deputy Chairman of the Management Board at EDB, and Evgeny Zubitskiy, President of IMH
Eurasian Development Bank (EDB) provided a US $30 million revolving loan facility for Belagroprombank for five years. The agreement was signed on 28 December 2016 by Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at EDB, and Sergei Chuhai, Deputy Chairman of the Management Board at Belagroprombank
EDB to refinance State Transport Leasing Company’s expenses for the construction of river-sea oil tankers
Eurasian Development Bank and State Transport Leasing Company (GTLK) made a loan agreement to refinance GTLK’s expenses for the construction of three river-sea oil tankers (RST54) at Russia’s Oka Shipyard. The agreement was signed by Konstantin Limitovsky, Deputy Chairman of the Management Board at EDB, and Anton Borisevich, First Deputy General Director of GTLK. The loan totalling US $29.4 million will be provided for 6.5 years
Asian investors continue to increase direct investments in the EAEU. Over the observation period, FDI stock from nine Asian countries (China, Japan, Turkey, India, the Republic of Korea, the United Arab Emirates, Iran, Singapore, and Vietnam) has increased from US $30.4 billion in 2008 to US $61.9 billion in early 2016. These findings are presented in EAEU and Eurasia: Monitoring and Analysis of Direct Investments 2016, a report prepared by Eurasian Development Bank’s Centre for Integration Studies
Eurasian Development Bank (EDB) intends to become a market maker at KASE's currency market for the RUB/KZT pair. EDB decided to acquire this status in order to support integration of the member states' foreign exchange markets. Earlier, EDB acquired the same status for the RUB/KZT pair at Moscow Exchange