Andrey Beliyaninov: The EDB takes an active part in Eurasian integration by implementing integration projects, which account for over 50% of its portfolio
Moscow, 17 May 2018. The Eurasian Development Bank (EDB) has considerable potential, in terms of its contribution to integration in Eurasia, to consolidate integration ties both within the Eurasian Economic Union (EAEU) and in megaregional projects, such as the Belt and Road Initiative. Andrey Beliyaninov, Chairman of the EDB Management Board, stated this at the panel discussion titled Regional Megablocks: The Way to Fragmentation or a New Globalisation? of the Global Challenges Summit (Astana Economic Forum).
“We also see opportunities for the EDB to participate in integration processes at the macro level of establishing a network of free trade zones,” the speaker pointed out.
The network of free trade zones is intended to enhance and simplify access for export manufacturers from the EAEU to foreign markets and assist the EAEU countries in joining regional and global chains and attracting investment. These agreements aim to boost both exports and investment to promote economic growth.
“In this connection, the EDB, having all the EAEU countries among its members, could act as a multilateral facility to support joint projects of the member states with EAEU partners, by ensuring their identification, preparation and financing with the use of a wide range of financial products and instruments,” Andrey Beliyaninov emphasised.
The head of the EDB added that close cooperation between regional development banks is a crucial factor for promoting integration at the micro level of industries.
“Given the scale of megaregional integration projects, the co-financing of major infrastructure investment projects acquires special importance,” Andrey Beliyaninov stated.
In the context of Eurasian megaregional integration, the important infrastructure projects implemented with the EDB’s participation include the construction and operation of the Nurly Zhol automobile checkpoint, the operation of a logistics centre on a section of the Western Europe – Western China road using a PPP mechanism, and the construction and operation of the third component of the toll Central Ring Road in Moscow Region.
The Global Challenges Summit (Astana Economic Forum) is taking place on 17-19 May in Astana, Kazakhstan.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
The EDB Media Centre:
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