Nikolai Podguzov, Chairman of the EDB Management Board, and Mikhail Myasnikovich, Chairman of the EEC Board, discuss investment developments in the EAEU

23 July 2020

Moscow, 23 July 2020. Nikolai Podguzov, Chairman of the Management Board of the Eurasian Development Bank (EDB), and Mikhail Myasnikovich, Chairman of the Board of the Eurasian Economic Commission (EEC), discussed prospects for restoring the Eurasian Economic Union’s (EAEU) economies after the pandemic and expanding trade and economic ties through investment.

“We proceed from the assumption that the EDB is intended to become a consolidating element of the financial infrastructure and a catalyst for deepening integration in EAEU countries. The Union is composed of five of the six member states of the Bank – Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. The Republic of Moldova that has acquired observer status with the EAEU has simultaneously announced its intention to become a shareholder of the EDB. The entire infrastructure of the Bank, including cash and settlement mechanisms, and our financial standing are ready for this work,” said Nikolai Podguzov, Chairman of the EDB Management Board.

Mikhail Myasnikovich, Chairman of the EEC Board, congratulated Nikolai Podguzov on his recent election to his current position and stressed in this regard: “We have great hopes and expectations associated with your appointment. I am sure that the good developments that have already been achieved as a result of cooperation between the countries of our Union and the Bank will be expanded with many new initiatives and our good relations will develop further.”

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.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)

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

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

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