Nikolai Podguzov discusses Sustainable Infrastructure Development at ADFIAP CEO Forum XVII in Bali
Almaty, 8 November 2024. Nikolai Podguzov, the Chairman of the Board of the Eurasian Development Bank (EDB) underscored the Bank’s commitment to sustainable infrastructure development at the 17th CEO Forum of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) held in Bali, Indonesia. Speaking at the thematic session on "Sustainable Futures: The Role of Impact Investment in Building Resilient Infrastructure," the EDB Chairman emphasized the vital role of multilateral cooperation and "glocalization" in addressing global challenges through region-specific solutions.
“Infrastructure development is essential for sustainable growth in both Asia and Central Asia,” said Podguzov, whose presentation outlined the EDB’s strategic commitment to sustainable development projects in its home region. “By embracing 'glocalization,' we can address the unique needs and constraints of each region, ensuring solutions that are both effective and context-specific. Central Asia, for example, requires not only sustainable projects, but also rapid growth to close the income gap with wealthier nations.”
The session, moderated by Luthfyana Kartika Larasati from Climate Policy Initiative Indonesia, highlighted the urgent need for resilient infrastructure in the face of climate change, urbanization, and resource depletion. “Sustainable infrastructure is crucial in achieving multiple SDGs,” Larasati said. “It is the cornerstone of efforts to create a more equitable and environmentally sound future.”
The importance of Development Finance Institution (DFI) cooperation and joint financing to support these goals was echoed by several panelists. Nikolai Podguzov stressed, “There is no alternative to cooperation. Only by joining forces can DFIs finance the multi-billion-dollar infrastructure projects necessary for a sustainable future. EDB is eager to enhance collaboration with ADFIAP members, especially in Central Asia, where large-scale projects in transport, water, and food security are at the core of our strategy.”
Representing Oman, Hussain bin Ali Al Lawati, CEO of the Development Bank and ADFIAP Board Member, underscored the significance of collaborative DFI efforts in financing ambitious sustainability initiatives. “Oman’s Net Zero Emission 2050 initiative reflects our leadership’s bold vision, and projects such as Sultan Haitham City embody a commitment to sustainability,” Al Lawati explained. “Achieving such goals requires substantial joint investments across DFIs to mobilize the resources necessary for this scale of development.”
Faaris Pranawa, Public Financing and Project Development Director of Indonesia's PT Sarana Multi Infrastruktur, similarly emphasized how Indonesia has harnessed collaborative DFI financing for its SDG Indonesia 1 platform. “By working together with international partners, we have mobilized $3.15 billion for over 120 impactful projects across Indonesia. This cooperative approach allows us to build critical infrastructure that strengthens economic growth and community resilience,” Pranawa said.
The Eurasian Development Bank’s participation in the forum underscores its leadership in sustainable development financing and its dedication to regional growth through cooperative investments. “At EDB, we recognize the impact that a united DFI community can have on creating resilient, sustainable futures,” Podguzov concluded.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For more than 18 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations. Kazakhstan accounts for almost 60% of the Bank’s investment portfolio.
ADFIAP is the focal point of all development banks and other financial institutions engaged in the financing of development in the Asia-Pacific region. Its mission is to advance sustainable development through its members. Founded in 1976, ADFIAP has currently 90 member-institutions in 40 countries. ADFIAP is also a founding member of the World Federation of Development Financing Institutions composed of regional associations in Africa, Asia-Pacific, Latin America and the Middle East.
The Eurasian Development Bank is a Special Member of the Association.
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