Moscow, 29 June 2011. A regular session of the Eurasian Development Bank’s (EDB) Council was held on Tuesday in Moscow. Its participants included Alexei Kudrin, Chairman of the EDB Council, Deputy Prime Minister and Minister of Finance of the Russian Federation, and the members of the Council from the EDB member states: Bolat Zhamishev, Minister of Finance of Kazakhstan; Vache Gabrielyan, Minister of Finance of Armenia; Sergey Rumas, Deputy Prime Minister of Belarus; and Safarali Najimiddinov, Minister of Finance of Tajikistan.
The Council discussed the Bank’s future performance and development strategy and made a number of important decisions. In particular, the Council reviewed and approved the EDB Executive Board’s annual report and the Bank’s annual balance sheet and income statement for 2010, subject to Deloitte’s auditor’s opinion. It also approved the Executive Board’s proposal on the distribution of the Bank’s income for 2010 and formation of a reserve fund. The participants also adopted, in general, the EDB development plan for
2011-2013.
“The year 2010 was another year of success for the Bank. We have significantly strengthened our positions in the region and enhanced our investment portfolio with new important projects,” commented Igor Finogenov, Chairman of the EDB Executive Board. “The EDB investment portfolio, as one of the main indicators of the Bank’s activities, exceeded US $2.2 billion at the end of 2010, an increase of more than US $887.2 million or 67.1% over the reporting period. The EDB’s year-end total assets exceeded US $2.5 billion and net profit for the year grew to US $15.8 million.”
