Moody’s assigns Baa1 rating to the EDB’s green bonds

24 September 2021

Moscow, 24 September 2021. Moody’s Investors Service (“Moody’s”) has assigned a rating of Baa1 to the Eurasian Development Bank’s first green bond issuance. On 21 September, the EDB has successfully listed its three-year Kazakhstani tenge-denominated securities for a total of KZT 20 billion, with a coupon of 10.5%, on Kazakhstan Stock Exchange (KASE).

The rating mirrors the EDB’s long-term issuer rating of Baa1 from Moody’s.

Moody’s notes that the Bank has continued to increase the proportion of sustainable projects, with renewable projects accounting for the largest share within its energy portfolio. The EDB also monitors the environmental impact of all its projects.

According to the agency, the Bank’s social responsibility policy establishes incentives for member countries to implement social risk management systems within projects.

Moody’s also notes that the EDB continues to strengthen its risk management practices and works with other development banks with solid governance standards.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For 15 years, the Bank has worked to strengthen and broaden economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.

The EDB Media Centre:

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

pressa@eabr.org

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2021