EDB and Project Initiatives Development Agency Sign Cooperation Memorandum

Moscow, October 20, 2017. – The Eurasian Development Bank (EDB) and the Group of Companies "Region", represented by Project Initiatives Development Agency LLC (PIDA), have signed a Cooperation Memorandum. The signatories are Konstantin Limitovskiy, EDB Deputy Chairman of the Board, and Valery Repkov, PIDA General Director. The purpose of the Memorandum is to promote implementation of joint mid-term and long-term infrastructure investment projects, increase output of high-tech value-added products, and create new jobs in industry, power engineering, transportation, and other sectors.

The document envisages cooperation in a number of areas, such as funding of individual investment projects, and exchange of experience and knowledge through participation of representatives of the Parties in workshops, conferences, and business forums organized by the Parties to the Memorandum.

Additional Information:

Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 to promote development of market economies of its member states, and secure their sustainable economic growth and expansion of their mutual trade and economic ties. The charter capital of the EDB is $ 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.

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