EDB and EEC to continue cooperation to deepen economic integration
Almaty, 25 May 2026.
Nikolai Podguzov, Chairman of the Management Board of the Eurasian Development Bank (EDB), and Bakytzhan Sagintayev, Chairman of the Board of the Eurasian Economic Commission (EEC), signed a Memorandum of Cooperation on the sidelines of the EDB's Annual Meeting and Business Forum in Almaty.
The Memorandum was developed with the consideration for the promising development areas of the Eurasian Economic Union; it reflects the need to update the legal framework governing cooperation between the parties.
The document aims to update the existing mechanisms for cooperation between the parties and supplement them with new areas of interaction that reflect current economic and technological conditions.
In particular, it provides for the development of instruments to support cooperative projects in manufacturing and the agro-industrial sector, as well as the improvement of financial support mechanisms to promote the exports of products jointly produced by EAEU countries. The new Memorandum also creates conditions for developing cooperation between the parties in wider application of information technology and artificial intelligence.
"We are rebooting our cooperation with the EEC. The previous Memorandum was signed more than ten years ago, and today we need new instruments that meet modern challenges. The new document focuses on practical matters: industrial cooperation, agriculture, and digitalization. This is where we see growth opportunities that the EDB will support," Nikolai Podguzov noted.
"The signing of this Memorandum is an important step in strengthening the partnership between the EEC and the EDB. The document will become a solid benchmark for our further joint work to promote integration projects that have economic potential and require appropriate investment support," Bakytzhan Sagintayev, Chairman of the EEC Board, summarized.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 20 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of December 2025, the EDB’s cumulative portfolio comprised 326 projects with a total investment of US $19.6 billion. The Bank's portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
As part of its 2022–2026 Strategy, the EDB is implementing 3 mega-projects: The Water and Energy Complex of Central Asia, The Eurasian Transport Network, and The Eurasian Commodity Distribution Network.
The EDB Media Centre:
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