EDB intends to fill the niche vacated by Western development institutions due to economic sanctions
“EDB’s priority is not high returns on the projects it finances, but the integration and modernisation effects,” he emphasised. According to Niko Vardapetyan, these are projects that create production chains between the EEU member states, and promote mutual investment and trade. “Such projects in the oil and gas sector are focused, in the first place, on the creation of infrastructure, including pipelines, ports and shipment terminals, as well as oil and gas chemical works,” the expert noted. “EDB is ready to provide finance in foreign currencies for such projects for up to fifteen years. I should emphasise that a project should be profitable, elaborate and have a skilled team. However, EDB’s priority is not high returns, but risk prevention, and the integration and modernisation effects.”
“The Bank has upgraded its internal structure. The new structure helps to evaluate projects objectively, make quick decisions, and provide comprehensive support to clients,” Niko Vardapetyan concluded.
The forum is taking place on
The National Oil and Gas Forum is an annual event arranged by the Russian Ministry of Energy in cooperation with leading business and sector associations. The issues traditionally discussed at the forum include long-term objectives of the oil and gas sector, the development of market infrastructure in the energy sector, innovations, and energy efficiency.
Additional Information about the Bank:
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital totals US $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.
EDB Media Center:
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e-mail: pressa@eabr.org