Strategic partnership: the EDB and Servolux sign a memorandum in Almaty
Almaty. On 28 June 2024, during the Annual Meeting and Business Forum of the Eurasian Development Bank (EDB) in Almaty, Kazakhstan, a memorandum was signed to support the investment programme of the Servolux Group of Companies. The document was signed by Iaroslav Mandron, Vice Chairman of the EDB Management Board, and Alisher Adylov, Director General of Servolux.
Investments in agriculture account for 3.4% of the Bank’s portfolio, demonstrating the Bank’s interest in and readiness to support projects in this sector. During the signing ceremony, Yaroslav Mandron thanked Servolux for its reliable partnership and the contribution of its professional team to joint projects.
Servolux is a major agricultural producer and operator in Belarus and has stable sales channels in all EAEU countries. A recognised expert in poultry and food production, the group has more than 20 brands and 10,800 employees. The EDB has already supported the group’s exports – in 2022, the Bank opened a loan facility to finance its working capital and capital expenditure.
The memorandum to support the investment programme aims to modernise, optimise and expand production, including the establishment of a new production facility in Uzbekistan. The parties expressed the hope that the memorandum will become a basis for strengthening and expanding cooperation in the long term.
The EDB Annual Meeting and Business Forum was held in Almaty, Kazakhstan, on 27–28 June. Recordings of the sessions are available at: https://www.youtube.com/@eabr_online/streams
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank 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.
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