President of Kazakhstan Nursultan Nazarbayev and EDB Chairman Igor Finogenov meet in Astana
Astana, 24 April 2014. President of Kazakhstan Nursultan Nazarbayev and Igor Finogenov, Chairman of the Management Board at Eurasian Development Bank (EDB), met today in Astana. They discussed the main areas of EDB operations in Kazakhstan and the results achieved since its establishment in 2006 by the authorised representatives of Kazakhstan and Russia.
It was noted, in particular, that over this period the Bank invested more than US $2 billion in Kazakhstan’s economy and implemented 28 projects in various sectors, including the power sector, transport engineering, and the chemical sector. Another 28 projects are under consideration at the moment.
The head of state emphasised that EDB’s performance indicators confirmed its positive dynamics. Nursultan Nazarbayev said that Kazakhstan welcomed EDB’s intentions to enhance its operations, increase its capital and accept new members.
Igor Finogenov told about the key areas of EDB operations, focusing on top-priority projects, which are implemented in the framework of Kazakhstan’s national and sectoral programmes. In addition, the Bank’s headquarters in Almaty partner with second-tier banks to develop small- and medium-sized business financing.
The head of EDB also noted that the Bank took an active part in the advancement of Kazakhstan’s financial market and plans to issue its own securities, which will make it possible to increase project financing in the national currency.
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.