Russian Government Permitted EDB Securities to Be Placed and Circulate in Russia

On 29 December 2008, Vladimir Putin, Chairman of the Government of the Russian Federation, signed a Decree of the Government of the Russian Federation, by which the Eurasian Development Bank is listed among international financial organizations whose securities are permitted to be placed and circulate in Russia.

”This Decree by the Russian Government is to “legalize” the EDB in the territory of the Russian Federation, i.e. to enable it to place its securities among institutional investors”, said Dmitry Krasilnokov, Member of the EDB Executive Board and Head of Corporate Finance & Financial Institutions. “The terms and volumes of prospective borrowings will be determined in consultation with leading Russian investors“. According to Krasilnokov, the Bank will hold such consultations in the near future.

In September last year, the Russian Government and the EDB signed an agreement on the terms of the EDB’s presence in the territory of the Russian Federation.

When signing this agreement, the parties were governed by the Agreement Establishing the EDB between the Russian Federation and the Republic of Kazakhstan dated 12 January 2006, and took into account the need to create favourable conditions for the Bank’s operation in Russia and ensuring its status, immunities and privileges.