EDB to raise RUB 1.6 billion from HSBC Bank plc

Moscow, 28 August 2013. Eurasian Development Bank (EDB) and HSBC Bank plc entered into a loan agreement for a total of RUB 1.6 billion. EDB plans to use these funds for its general corporate purposes, including the fulfilment of its new strategy until the end of 2017.

The Bank will focus on financing projects to develop energy, transport and municipal infrastructure in its member states. EDB will contribute to the improvement of their energy efficiency by financing projects to reduce industrial energy consumption and improve resource saving. In order to promote further economic integration between the member states, the Bank will continue to finance projects that advance trade and economic ties and mutual investments.

«This bilateral loan agreement was signed on the terms, which are beneficial for EDB,» says Dmitry Krasilnikov, Member of the Board and Managing Director for Corporate Finance. «This is particularly important taking into account our fundamental interest in attracting the roubles and the current uncertainty in the market in long-term euro and rouble loans.»

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 athttps://www.eabr.org.