14:27 Dmitry Pankin: Enhancing transport infrastructure is of common interest to the One Belt, One Road initiative and the EAEU
14:00 EDB: The issue of surplus power generation can be solved by the expansion of exports, but trans-boundary power grids need to be developed jointly to this end
17:03 EDB and the Kyrgyz Republic sign a US $110 million credit agreement to be financed by the EFSD
Dmitry Pankin: Enhancing transport infrastructure is of common interest to the One Belt, One Road initiative and the EAEU
Creating effective transport infrastructure is the key area of common interest to the One Belt, One Road initiative and the Eurasian Economic Union. Dmitry Pankin, Chairman of the Management Board at EDB, told this at the Boao Forum for Asia’s Annual Conference Globalisation & Free Trade: The Asian Perspectives
EDB: The issue of surplus power generation can be solved by the expansion of exports, but trans-boundary power grids need to be developed jointly to this end
The EDB countries need to coordinate their strategies for the development of power grids (power grid facilities and trans-boundary transmission lines) in order to use effectively their capacity to export electricity to third countries. International trade and optimised load on power plants will help to improve the operation of the national power systems and, eventually, reduce the prime cost of electricity for consumers. These are the findings presented in Power Grids in EDB Countries, a report prepared by Eurasian Development Bank’s Department for Strategic and Sector Research
Eurasian Development Bank (EDB), as the Resources Manager of the Eurasian Fund for Stabilisation and Development (Fund), and the Kyrgyz Republic signed an investment credit agreement for US $110 million to be provided by the Fund to finance the commissioning of Unit 2 at Kambarata HPP 2. The document was signed by Dmitry Pankin, Chairman of the Management Board at EDB, and Adylbek Kasymaliyev, Minister of Finance of the Kyrgyz Republic
Today, Eurasian Development Bank (EDB) and the Roscongress Foundation signed a cooperation agreement at the Russian Investment Forum in Sochi. The document was executed by Dmitry Pankin, Chairman of the Management Board at EDB, and Shukrullo Israilov, Deputy Director of Roscongress
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