Rostelecom to expand cooperation with the EDB across Eurasia as part of the operations of the Bank’s Fund for Digital Initiatives

03 June 2021

St. Petersburg, 3 June 2021. The Eurasian Development Bank (EDB) and Rostelecom agreed to jointly implement Eurasian interstate infrastructure and digital projects. The memorandum was signed during the St. Petersburg International Economic Forum by Tigran Sargsyan, Vice Chairman of the EDB Management Board, and Anna Shumeyko, Senior Vice President and Chief of Staff of the Presidential Executive Office at Rostelecom.

The sides will cooperate as part of the operations of the EDB Fund for Digital Initiatives

The document envisages the implementation of interstate infrastructure, digital, and innovation projects, as well as the development and support of joint products in the EDB member countries – Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.

“The document we signed today expands our cooperation with Rostelecom, which is already underway for the benefit of the Bank’s countries. Some of our projects, including the COVID-19 Free Travel app developed by the EDB Fund for Digital Initiatives and the Work in the EAEU app, which is currently being developed, use Rostelecom’s infrastructure. The memorandum also provides an opportunity to set up joint ventures between the Bank and Russia’s leading provider of digital services,” said Tigran Sargsyan, Vice Chairman of the EDB Management Board.

Anna Shumeyko, Senior Vice President and Chief of Staff of the Presidential Executive Office at Rostelecom, added that “this memorandum establishes a partnership and aims to develop long-term effective and mutually beneficial cooperation between Rostelecom and the Bank as part of the operations of the EDB Fund for Digital Initiatives. There are already many areas of mutual interest. Our joint projects in the Bank’s member states will promote the digitalisation of the Eurasian Economic Union.”

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 and is headquartered in Almaty. 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 Eurasian Development Bank’s Fund for Digital Initiatives was established by the Bank’s Council on 30 June 2020. The Fund’s objective is to assist EDB member states in creating digital transformation tools and practices by integrating their information resources and participating in the development and financing of projects, including those implemented under the Eurasian Economic Union’s Digital Agenda 2025.

Rostelecom is Russia’s largest integrated provider of digital services and solutions, with presence in all market segments and covering millions of households, governmental and private organizations.

The Company maintains leading positions in the market of high-speed Internet access and PayTV services with over 13.5 million broadband Internet subscribers and some 10.8 million Rostelecom PayTV subscribers of which over 6.2 million subscribers are connected to the Interactive TV services.

Rostelecom’s wholly owned subsidiary Tele2 Russia is now a major player on the mobile communications market with over 46.6 million subscribers, and the leader in terms of NPS (Net Promoter Score) index reflecting willingness of users to recommend company’s services to others.

Rostelecom is a leader on the market of telecommunications services for Russian public authorities and corporate users of all levels.

The Company is a widely recognized technology leader in offering innovative solutions for electronic government, cybersecurity, data centre and cloud-based services, biometrics, healthcare, education, and house maintenance and utility services.

The EDB Media Centre:

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

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

Rostelecom Press Centre:

Andrey Polyakov, +7(917) 580-95-50 (Moscow)
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