EDB's investment portfolio enhances with a new project: the Bank's largest one in the mining sector
A US $100 million loan agreement was signed with Polymetal in Moscow
Moscow, 2 October 2012. Eurasian Development Bank and Polymetal signed today a US $100 million non-revolving loan facility agreement to finance the creation and development of infrastructure for the company’s mining projects. The document was signed by Gennady Zhuzhlev, Deputy Chairman of the EDB Management Board, and Vitaly Nesis, CEO of Polymetal.
«This project is fully in line with EDB’s mission as it has significant economic and integration effects,» says Gennady Zhuzhlev. «Polymetal is one of the leading producers of gold and silver working in the Bank’s member states Russia and Kazakhstan. The share of mining and industry in the Bank’s cumulative investment portfolio is 5.1% now. This will be the Bank’s largest project in the sector, out of five in the investment portfolio.»
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
Polymetal is Russia’s leading producer of gold and one of the world’s largest producers of silver. The company mines for precious metals and conducts exploration in four Russian regions (Magadan and Sverdlovsk Regions, Khabarovsk Krai, and Chukotka Autonomous Okrug) and Kazakhstan. Read more at https://www.polymetalinternational.com/