Marat Kussainov: the EDB has its “niche” in the EAEU’s global Eurasian integration agenda
Almaty, 30 September 2019. A delegation of the Eurasian Development Bank (EDB, Bank) headed by Marat Kussainov, Deputy Chairman of the Management Board, took part in the Eurasian Week International Business Forum in Bishkek.
Marat Kussainov spoke at the panel session titled Business, Money, People: Approaches to Deepening Integration within the EAEU where he presented the Bank’s key achievements, including a significant increase in its investment portfolio in 2018-2019 coupled with an increase in the share of loans extended in national currencies and the maintenance of high rankings from rating agencies.
At present, the Bank’s cumulative investment portfolio (from the beginning of its operations) includes 201 projects and totals US $8.2 billion. The current investment portfolio comprising 96 ongoing projects is worth US $3.9 billion. Over the recent two years, the Bank signed new agreements for a total of US $2.6 billion.
“As we can see, the Bank has significantly enhanced its investments and continues to focus on projects with a strong integration effect as well as national development projects. The Bank has its “niche” in the EAEU's global Eurasian integration agenda and has established itself as a priority financial institution engaged in promoting integration and acknowledged by the member states’ governments,” Marat Kussainov stated.
Additional Information:
The 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. The 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.
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