Eurasian Development Bank invests over $2.8bn in 33 projects

Bne Media Ltd.

March 25, 2010

The Eurasian Development Bank is contributing over $2.8bn for 33 investment projects totaling over $16bn, reports Prime-Tass.

The news agency quoted the banks CEO Igor Finogenov as saying that the projects include the modernization of Kazakhstans Ekibastuz GRES-2 power plant, the creation of Russian regional passenger aircraft Sukhoi SuperJet 100, the construction of an interregional power transmission line in Kazakhstan, the construction of a railroad car production facility in the city of Tikhvin in the Leningrad Region, and the upgrade of a thermal power plant in the city of Argun in the constituent republic of Chechnya.

In the meantime, Russian Deputy Finance Minister, Dmitri Pankin says that Gazprom, VTB and the Venezuelan state investment fund Fonden will act as founders of the Russian-Venezuelan bank established on the basis of Eurofinance Mosnarbank, reports local media.

Reports suggest that the present shareholders of the bank will assign a part of the shares to the Venezuelan party.