EDB and EurAsEC Laid Down Foundation for Strategic Partnership

Almaty, 24 September 2009. On Thursday, Igor Finogenov, Chairman of the EDB Executive Board, and Tair Mansurov, General Secretary of EurAsEC, signed a Memorandum of Understanding and Co-operation between the EDB and the Secretariat of the EurAsEC Integration Committee. The signing ceremony was held as part of the Investment Forum Customs Union: EurAsEC’s Integration Breakthrough in Almaty.

The purpose of this Memorandum is to establish and develop a partnership between the Secretariat and the Bank, and to ensure that the potential of these bodies is used as efficiently as possible.

The parties strive to further integration and economic growth of EuraAsEC countries and facilitate trade between them, and therefore will make concerted efforts to implement international target programmes adopted in EuraAsEC and the Bank’s investment projects in the member states.

In so doing, the Secretariat and the Bank will develop and adopt provisions for co-financing such international target programmes or investment projects or co-operating in raising necessary funds.