The EDB, after signing a protocol with Avtodor, states its readiness to arrange financing for the Europe–Western China transport corridor

03 June 2021

St. Petersburg, 3 June 2021. The Eurasian Development Bank (EDB) is ready to arrange financing for the Europe–Western China international transport corridor. Nikolai Podguzov, Chairman of the EDB Management Board, stated this on the sidelines of the St. Petersburg International Economic Forum after signing a protocol to the Memorandum of Understanding with Russian Highways (Avtodor).

“The Eurasian Development Bank (EDB) is ready to be the lead arranger of financing for the Europe–Western China international transport corridor. Let me remind you that the route crosses the territories of the EBD’s two largest shareholders, Russia and Kazakhstan. It would be difficult to name another financial institution with a high level of competence in both these countries. We are already systematically financing the infrastructure related to this transport corridor in both Russia and Kazakhstan. In Russia, EDB is involved in building the Western High-Speed Diameter in St. Petersburg and the Central Ring Road in the Moscow Region. We have also reached an agreement to start work on the Togliatti Bypass and the M12 Moscow–Nizhny Novgorod–Kazan road projects. In Kazakhstan, we are arranging financing for the Big Almaty Ring Road (BAKAD) and has ensured the launch of the Nur Zholy automobile checkpoint, which is actually the gateway for the entire corridor to China,” said Nikolai Podguzov.

The protocol signed today by Nikolai Podguzov, Chairman of the EDB Management Board, and Vyacheslav Petushenko, Chairman of the Board of Russian Highways, expands the Memorandum of Understanding dated 30 November 2016. The document also envisions the Bank’s participation in financing the M12 Moscow–Nizhny Novgorod–Kazan road project.

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 machinery.

The EDB Media Centre:

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

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

pressa@eabr.org

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2021