EDB takes part in the G20 Finance Ministers’ and Central Bank Governors’ Meeting in Moscow
Almaty, 22 July 2013. Eurasian Development Bank (EDB) took part as an outreach partner in the G20 events, including the G20 Finance Ministers’ and Central Bank Governors’ meeting, which took place last week in Moscow.
The participants discussed a range of issue, including the latest tendencies in the global economic development, the reform of the international financial architecture and progress in financial regulation and ensuring access to financial services. Other issues on the agenda were the financing of investments (a priority for the Russian presidency), countermeasures to tax base dilution and relocation of profits, energy sustainability, transparency of markets in raw materials, and financing efforts to fight climate change.
EDB was assigned the status of an outreach partner for the period of Russia’s presidency of the G20 in 2013. The proposal to assign this special status to EDB was made by the Russian Ministry of Finance which invited the Bank to take part in the G20’s Finance Track. The membership of EDB, its status of a multilateral financial institution and its proactive work, through the EurAsEC Anti-Crisis Fund, to overcome the consequences of the global financial crisis were taken into account.
This form of partnership is used to promote G20 initiatives among the countries which are not members of the group and envisages the involvement of certain countries and international institutions in the G20 events. The selection criteria include the countries and institutions’ belonging to a certain region, their potential contribution to the discussion and the readiness of the G20 partners to work with them.
Since February 2013 EDB has been taking part in the G20 Finance Track events, including the Finance Ministers’ and Central Bank Governors’ meetings, which prepare recommendations for the G20 leaders who will pass the final communiqué this September in St. Petersburg. The G20 events in Moscow, where the Bank’s representatives worked as experts, were no exception.
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 about EDB at www.eabr.org