EDB-funded Khimprom’s project is discussed in Chuvashia

15 April 2021

Moscow, 15 April 2021. Oleg Nikolayev, Head of Chuvashia, had a working meeting with Sergey Ignatov, Managing Director of the Eurasian Development Bank’s (EDB) Directorate for Industries, and Yaroslav Kuznetsov, CEO of Orgsyntes Group and Chairman of the Board of Directors of Khimprom.

The sides discussed the implementation of the project to construct a new hydrogen peroxide manufacturing facility at Khimprom’s production site. The project is being financed by the Eurasian Development Bank, the agreement with which was signed at the St. Petersburg International Economic Forum.

The sides also discussed measures aimed at improving the efficiency of investment projects in the republic and work on establishing a special economic zone in Novocheboksarsk.

Sergey Ignatov noted the Eurasian Development Bank’s readiness to consider other investment projects in Chuvashia. “If there are other projects in the republic that can be developed, bring added value to the economy, or have a cooperative effect with EDB member countries, we are ready to consider support for such projects with long-term financial instruments,” he said.

Oleg Nikolayev, Head of Chuvashia, stressed that the republic’s government continued to work on creating enabling conditions for investment in the region. “We are actively working to establish a special economic zone in Novocheboksarsk so that investment projects could receive maximum support in terms of taxation,” he said. “We will continue to extend all possible support to major investment projects in the republic.”

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 and is headquartered in Almaty. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering.

The EDB Media Centre:

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

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



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