Head of EBD tells the Federation Council about the Bank's investment activities

Moscow, 10 December 2012. Eurasian Development Bank (EDB) is the leading regional development institute and an effective financial tool of economic integration in the CIS. Igor Finogenov, Chairman of the EDB Management Board, stated this today during his speech in the Upper Chamber of Russia’s Federal Assembly at a roundtable «The Single Economic Space: Problems and Solutions, Prospects and Legal Framework.»

He said that since 2006, when the Bank started its operations, it has taken part in almost seventy projects in five regional countries: Russia, Kazakhstan, Belarus, Tajikistan and Armenia. The Bank’s accumulated investment portfolio exceeds US $4.6 billion.

The head of EDB told the participants in this respectable forum, among whom were Valentina Matviyenko, Chairman of the Federation Council, Sergey Glazyev, Adviser to the President of Russia, and Viktor Khristenko, Chairman of the Board of the Eurasian Economic Commission, about the Bank’s key projects and their integration and socioeconomic effects.

Among the speakers at the forum were Russian senators, heads of ministries of foreign affairs, industry and trade, transport, finance, and economic development, Russia’s customs authorities, academic researchers, and ambassadors of Belarus, Kazakhstan and Ukraine in Moscow.

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.