EDB raises US $40 million to develop programmes for the financial sectors of its member states

Almaty, 21 December 2012. Eurasian Development Bank (EDB) and HSBC Bank plc signed a bilateral loan agreement pursuant to which EDB will receive a loan of US $40 million.

The funds will be used to finance loan facilities the Bank opens to financial institutions from its member states in the framework of its small and medium-sized business, micro finance and energy saving programmes and agricultural projects.

Additional Information

Eurasian Development Bank 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 exceeds US $1.5 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. Read more at https://www.eabr.org.