Main
News and Events
News
EDB to enhance its credit portfolio in mining and metallurgy

EDB to enhance its credit portfolio in mining and metallurgy

12 February 2016

EDB to enhance its credit portfolio in mining and metallurgy

Moscow, 12 February 2016. Eurasian Development Bank (EDB) intends to expand its credit portfolio in mining and metallurgy in 2016-2017.

«The Bank is already considering projects worth over US $1 billion in aggregate», said Niko Vardapetyan, Managing Director for Customer Relations at EDB, at the Russian & CIS Metals & Mining Week. «We mean production with an integration component when, for example, raw materials are produced in one of the EDB member state and are then processed in another our country using equipment supplied by a third one». The speaker emphasised that EDB focused on projects with a strong integration effect and such projects would be offered the most beneficial lending conditions.

Niko Vardapetyan explained that EDB had significant liquidity and opportunity to raise additional funds, including in foreign markets. The Bank also considers projects with a modernisation effect, envisioning the set-up of high-tech production in the sector (including the extraction of minerals), increases in refining yields, upgrades in transport infrastructure (rolling stock, roads and ports), or substitutions for imported raw materials, equipment and technology.

The yearly Russian & CIS Metals & Mining Week took place from 9 to 11 February in Moscow. It is a strategic platform bringing together representatives of the largest mining and metallurgy enterprises.

Additional Information

Eurasian Development Bank (EDB) 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 totals US $7 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.