Igor Finogenov is taking part in the Russian-Kyrgyz top-level negotiations
Almaty, 20 September 2012. Russian President Vladimir Putin arrived with an official visit in Bishkek on Wednesday night. Today he will meet President of the Kyrgyz Republic Almazbek Atambayev and an extended session of Russian-Kyrgyz negotiations will be held. Igor Finogenov, Chairman of the Management Board of Eurasian Development Bank (EDB), takes part in these negotiations as part of the Russian delegation.
The sides will discuss a wide range of issues relating to cooperation between the two countries with a particular focus on cooperation in the hydroelectric power sector, namely the two major bilateral projects to construct Kambarata HPP 1 and the Upper Naryn cascade of hydropower plants.
A number of important joint documents are expected to be signed as a result of negotiations.
In August 2011 Kyrgyzstan became the sixth fully-fledged member of EDB. «Kyrgyzstan’s participation in the Bank has potential to produce a significant economic effect for this country,» said Igor Finogenov, Chairman of the EDB Management Board. «With access to EDB’s resources and experience in implementing projects in other member states, this country will be able to launch large investment projects to improve its economic sustainability and diversify the economy.»
In November 2011 the agreement on EDB’s presence in Kyrgyzstan took effect, which authorised the Bank to open its representative office in Bishkek. «I hope that we will finalise the formal procedure of opening EDB’s representative office in Bishkek in the near future and will begin to work proactively in the Kyrgyz Republic,» head of EDB said.
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.