EDB signs an agreement to finance equipment supplies from Russia to Kyrgyzstan
Almaty, 22 April 2013. Today Eurasian Development Bank (EDB) and Aiyl Bank signed an agreement on the indicative terms of the provision to this Kyrgyz bank of a US $6 million targeted loan facility. This money will be used to finance supplies of Russian-made machinery and equipment to Kyrgyzstan.
The agreement was signed at the meeting of the Russian-Kyrgyz intergovernmental commission in Moscow. Dmitry Krasilnikov, Member of the EDB Management Board and Managing Director for Corporate Finance, signed the document on behalf of EDB.
The EDB researchers believe that this project will have a sustainable development effect and help to promote market economy in Russia and Kyrgyzstan and their further integration. The supplies of new machinery and equipment from Russia will meet the objectives of modernising and enhancing Kyrgyzstan’s domestic industrial production and increasing trade between the two countries. The parties will agree on the range of products and the timeframes of supplies in the near future.
Additional Information
Aiyl Bank is one of Kyrgyzstan’s largest banks and a core financial and credit institution providing finance for the country’s agricultural sector. The bank was set up in 2006 as a successor to the Kyrgyz Agricultural Finance Corporation established by the Government of the Kyrgyz Republic with assistance from the World Bank in 1997. The bank’s shareholder is the Government of the Kyrgyz Republic represented by the Ministry of State Property. The Bank has a wide network of branches in the capital, regional and district towns and in the country’s most remote villages. Read more https://www.ab.kg/ru/
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