Krasnoyarsk, 17 February 2012. Igor Finogenov, Chairman of the Eurasian Development Bank’s (EDB) Executive Board, spoke at the Krasnoyarsk Economic Forum on Economic Modernisation and Integration Processes: Role of the Eurasian Development Bank.
The EDB head emphasised that the Bank’s activities were focused on strengthening international financial and economic cooperation in the interests of the development of its member states. In particular, the EDB facilitates sustainable economic development and integration processes through the selection and implementation of investment projects that improve trade and investment between the Eurasian countries.
“Today the Bank’s investment portfolio exceeds $3.4bn,” Igor Finogenov said. “The total potential of our past and current projects to generate mutual trade flows exceeds $1.1bn a year and mutual investments have also reached $1.1bn.” According to Mr Finogenov, the Bank’s investment portfolio is capable of generating $3m a year of gross output.
“The modernisation component is also important to us,” Igor Finogenov said. “We finance some innovative projects. Recently, a modern new-generation freight car plant using cutting-edge technologies was launched in Tikhvin of Leningrad Oblast. We financed this project in cooperation with Vnesheconombank. The Bank also supports the development of SukhoiSuperjet100 aircraft and Russia’s first industrial polycrystalline silicon production.”
The EDB is regular participant in the Krasnoyask Economic Forum. This year the Bank’s delegation included Igor Finogenov, Chairman of the Executive Board, his deputies Gennady Zhuzhlev and Dmitry Zhurba, and managers of the Bank’s structural divisions.
