The EDB adopts a new strategy: enhancing the investment portfolio, financing new sectors, and introducing settlement services

25 June 2018

Astana, 25 June 2018. The Council of the Eurasian Development Bank (EDB) approved the Bank’s new mid-term strategy for 2018-2022. The meeting was chaired by Bakytzhan Sagintayev, Prime Minister of the Republic of Kazakhstan and Chair of the EDB Council.

Under the new strategy, the Bank will continue to focus on projects with a strong integration effect and national development projects.

By the end of 2022, the current investment portfolio is planned to increase from US $2.3 billion to US $3.6 billion and the total value of new EDB projects to reach US $4.6 billion. The Bank’s “optimal” share in projects is targeted to amount between US $20 million and US $200 million; however, this does not preclude the Bank’s involvement in projects with a lower value, particularly in the member states with relatively small economies.

Keeping up with its established investment preferences, the EDB will continue to support infrastructure development, the power sector, mechanical engineering, metallurgy, the chemical and petrochemical sectors, mining, and oil and gas. The new industries to be supported by the Bank will be agribusiness and information technology, both of strategic importance to the EDB member states.

The EDB also plans to offer new settlement services that are already in demand with its clients.

The new strategy envisions the enhancement of the Bank’s resources in the member states’ national currencies in greatest demand among its clients. It is also planned to enhance cooperation with governmental authorities in the Eurasian Economic Union (EAEU) member states to connect the Bank to various mechanisms aimed at deepening integration between the EAEU economies, fulfilling joint and national projects, and preparing targeted programmes with the shareholders’ ministries and institutions.

The EDB will continue to develop cooperation with international organisations and multilateral financial institutions that operate in the region, including the Asian Infrastructure Investment Bank, and the New Development Bank.

As regards its institutional development, the Bank intends to improve the performance of its territorial divisions by focusing their work on the investment process – the search for and preparation of projects, and extending support during their implementation.

The Bank’s Council is its highest management body comprising representatives of the member states. The meeting in Astana was attended by Mher Grigoryan, Deputy Prime Minister, Republic of Armenia; Vladimir Amarin, Minister of Finance, Republic of Belarus; Bakytzhan Sagintayev, Prime Minister and Chair of the EDB Council, and Bakhyt Sultanov, Minister of Finance, Republic of Kazakhstan; Oleg Pankratov, Minister of Economy, Kyrgyz Republic; Sergey Storchak, Deputy Minister of Finance, Russian Federation; and Faiziddin Qahhorzoda, Minister of Finance, Republic of Tajikistan.

Additional Information:

The Eurasian Development Bank (EDB) 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. The EDB's charter capital totals US $7 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.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)                    

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

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

pressa@eabr.org

www.eabr.org

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