Businesses from EAEU member states to get consolidated financial and non-financial assistance for investment projects with an integration effect

14 May 2020

Moscow, 14 May 2020. The Eurasian Development Bank (EDB), the Russian Export Centre (REC), and the Organising Committee of the Regions – Sustainable Development Competition decided to launch the Integration Eurasian Competition – an annual international selection of investment projects. The respective agreement was signed by Andrey Beliyaninov, Chairman of the EDB’s Management Board; Veronika Nikishina, General Director of REC; and Anna Belichenko, Chair of the Regions – Sustainable Development Competition’s Organising Committee. Artak Kamalyan, Minister in charge of Industry and Agriculture at the Eurasian Economic Commission (EEC), endorsed the initiative to launch the Integration Eurasian Competition and the signing of the agreement.

The Eurasian Integration Competition will be held annually. The first selection of projects is scheduled to start on 1 September and continue until 1 December 2020. Competition organisers and partners will review investment projects with an integration effect for whether they can be supported with financial and non-financial assistance measures. The selection process will focus on high-tech industries, agriculture, and infrastructure.

The Integration Eurasian Competition is expected to provide various forms of financial and non-financial support to projects, including:

  • investment financing;
  • insurance products at the investment and operational phases of a project;
  • finance and operating lease;
  • trade finance;
  • consulting services, including those related to structuring export projects; and
  • eligibility of an investment project initiator to obtain national support measures from EAEU member states.

“The Integration Eurasian Competition will become an important and, hopefully, effective instrument to implement integration agenda within the EAEU,” said Artak Kamalyan, Minister in charge of Industry and Agriculture at the EEC. “Collaboration in implementing investment projects in our countries offers broad opportunities for industrial and high-tech cooperation, and for the expansion of mutual direct and debt investment.”

“The Eurasian Development Bank is keen to use this new opportunity to develop its member economies. Our traditional work with clients gets supplemented as part of this new initiative with the instruments and capabilities of the co-organisers. Perhaps we can talk here about a new development product, which is important and relevant in the challenging economic reality,” Andrey Beliyaninov, Chairman of the EDB’s Management Board, commented.

“In the current period which is tough for the global economy, we need to restart the investment cycle and this can be done in cooperation between governments, development institutions, and major financial organisations from the EAEU. We believe that the Integration Competition will become such an instrument of cooperation in implementing investment projects within the EAEU. In the framework of the competition, REC will be in a position to offer its participants specialised support measures and a wide range of instruments from the REC Group – from consulting services to credit insurance products, which will enhance the integration of businesses across EAEU member states,” Veronika Nikishina, General Director of REC, added.

“Taking the initiative to launch the Integration Eurasian Competition, we are creating additional tools and prerequisites to advance integration between EAEU member states in the post-coronavirus period, and offering support to mutual investment and partnerships between businesses across the Eurasian Economic Union’s member states. We hope that our joint work and partnership with the Eurasian Economic Commission, national development institutions, and government authorities will help to implement the decisions adopted by the presidents of the countries at the Supreme Eurasian Economic Council,” said Anna Belichenko, Chair of the Regions – Sustainable Development Competition’s Organising Committee.

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 Russian Export Centre, as a government institution supporting non-primary exports, provides Russian exporters with a wide range of financial and non-financial support measures. The centre focuses on improving the conditions for exports and lifting the existing barriers to foreign trade. It is a shareholder in the Russian Agency for Export Credit and Investment Insurance (EXIAR) and Eximbank of Russia, and this helps to optimise resources and create efficient business processes to provide comprehensive services to exporters. In accordance with VEB’s Memorandum on Financial Policies, one of its priorities is to promote exports and support investment projects with the participation of Russian companies abroad. The Russian Export Centre is part of the VEB.RF Group. Read more at http://exportcenter.ru.

REC in social media:

https://www.facebook.com/exportcenter.ru/?fref=ts

https://new.vk.com/exportcenter

https://twitter.com/exportcenter_ru

https://www.instagram.com/russian_export_center

https://twitter.com/rusexport_eng

https://www.facebook.com/exportcenter.eng/?fref=ts

https://www.instagram.com/russian_export_center_eng/

https://vk.com/exportcentereng

The Regions – Sustainable Development Competition has been held since 2011 in pursuance of an order of the Government of the Russian Federation, with the organisational and financial support from Sberbank, the Russian Agricultural Bank, and partners. The competition provides a special banking product for legal entities to arrange medium and long-term financing for investment projects launched with state support or state participation. When contacting the competition’s Organising Committee, project initiators receive one-stop-shop financial and non-financial support to their business initiatives under the rules of interaction between the Board of Trustees and the Expert Council.

Read more at http://www.infra-konkurs.ru

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

pressa@eabr.org

www.eabr.org


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