The EDB and ACRA sign a memorandum of cooperation to develop credit rating activities in the EAEU

07 June 2021

St. Petersburg, 4 June 2021. The Eurasian Development Bank (EDB) and the ACRA rating agency signed a memorandum of cooperation aimed at promoting economic growth in the member states of the Eurasian Economic Union (EAEU). The document was signed during the St. Petersburg International Economic Forum by Mikhail Sukhov, CEO of ACRA, and Nikolai Podguzov, Chairman of the EDB Management Board.

The EDB and ACRA will cooperate to improve the credit rating coverage of resident companies in the financial markets of the EAEU member states, foster the recognition of ACRA credit ratings in the EAEU member states’ regulation, and promote sustainable development tools. The sides agreed that ACRA would assign credit ratings to infrastructure bonds issued by EAEU companies as part of the projects involving the EDB.

"The memorandum we signed today is in line with the objectives set for the EDB by our shareholders. This is, in the first place, the advancement of economic development in our six member countries. We are also working consistently to develop our ESG standards. I am confident that tapping the potential of our Bank and ACRA will help to achieve the sustainable development goals of the EAEU member states,” said Nikolai Podguzov, Chairman of the EDB Management Board.

“The signing of this document of cooperation between ACRA and the EDB is a logical step in the work of both institutions. Pooling our capabilities in certain areas will facilitate the development of financial markets in the EAEU countries and the implementation of best practices. Recognition and application of common approaches to credit risk assessments in the EAEU countries will bring cooperation among investors, issuers, and regulators in the region to a new level and, as a result, will enable the expansion of trade and economic relations among the countries as well as growth in mutual investments,” emphasised Mikhail Sukhov, CEO of ACRA.

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

www.eabr.org 

Analytical Credit Rating Agency (ACRA)

75 Sadovnicheskaya Embankment, Moscow

www.acra-ratings.ru

The Analytical Credit Rating Agency (ACRA) was established in 2015. The list of its shareholders includes 27 major Russian companies and financial institutions and its share capital exceeds RUB 3 billion. ACRA’s main objective is to provide the Russian market with a high-quality rating product. ACRA’s methodologies and internal documents are developed in accordance with the laws of Russia, taking into account best international practices related to rating activities. 

Media contacts:

Alexey Churilov, +7 (495) 139 04 80, ext. 169

media@acra-ratings.ru


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2021