EDB's delegation takes part in the Annual Meetings of the International Monetary Fund and the World Bank in Tokyo
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Almaty, 17 October 2012. Eurasian Development Bank’s (EDB)
delegation headed by Igor Finogenov, Chairman of the Management Board, took
part in the Annual Meetings of the International Monetary Fund (IMF) and the
World Bank (WB) in Tokyo, which took place
In Japan the EDB delegation had a number of meetings with managers of other international financial institutions, including the WB and the IMF.
Igor
Finogenov, Eurasian Development Bank - View From IMF 2012 (video)
During negotiations with Philippe Le Houerou, WB Vice President for Europe and Central Asia Region, the sides discussed the implementation of the Framework Cooperation Agreement which set forth the forms of cooperation between them with respect to programmes and projects of the EurAsEC Anti-Crisis Fund (ACF), including cooperation in the area of research as regards the anti-crisis stimulation of the WB and ACF member economies.
At the meeting with Nemat Shafik, Deputy Managing Director of the IMF, the head of EDB talked about the need to enhance cooperation between the IMF and EDB with respect to the preparation and implementation of operations in the region’s countries which are members of both institutions.
The negotiations with Werner Hoyer, President of the European Investment Bank, focused on the issues of enhancing cooperation between the two international development banks. The head of EDB believes that the promising areas of cooperation are joint programmes to support small and medium-sized businesses and energy efficiency projects in Russia, Armenia and Central Asian countries.
In addition, the head of EDB met the heads of two delegations from the Bank’s member states.
During negotiations with Joomart Otorbayev, First Vice Prime Minister of the Kyrgyz Republic, and Olga Lavrova, Minister of Finance of the Kyrgyz Republic, Igor Finogenov told about the investment projects which were being considered by the Bank in the country, including some ACF projects. In particular, the parties talked about financing the construction of a ferroalloy plant and of the financial lease of agricultural machinery from the EurAsEC countries and the arrangement of export to these countries of Kyrgyzstan’s agrarian produce.
The most topical issues of cooperation between EDB and Tajikistan were discussed at the meeting with Safarali Najimiddinov, Tajikistan’s Minister of Finance. Igor Finogenov said that the Bank was interested in a large-scale work in Tajikistan and counted on the Tajik government’s support in order to more proactively utilise the Bank’s potential in this country. In particular, the Bank is studying the projects to reconstruct irrigation networks in the Tajik part of the Fergana Valley and upgrade the Nurek HPP.
At the meeting with Chultem Ulaan, Minister of Finance of Mongolia, the head of EDB proposed to bolster negotiations on establishing cooperation between this country and the Bank, which were initiated by the Mongol side in 2008.
In addition, Igor Finogenov met with Gyula Pleschinger, Minister of State for Taxation and Financial Policy Affairs of the Ministry for National Economy of Hungary, to discuss possible cooperation between EDB and Hungary, primarily with respect to the promotion of Hungarian business and investment in the Bank’s member states.
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.