The EDB and Business Russia to work on promoting settlements in national currencies in the EAEU member states
St. Petersburg, 24 May 2018. The Eurasian Development Bank (EDB) and Business Russia, an all-Russia public organisation, will promote settlements in national currencies in the EAEU member states. The respective memorandum was signed by Andrey Beliyaninov, Chairman of the EDB Management Board, and Alexey Repik, President of Business Russia.
The organisations plan to develop mechanisms to arrange settlements in national currencies among counterparties with the use of financial instruments offered by the EDB. The parties also intend to prepare and implement projects to support business activity in the EAEU member states.
“The possibility to make all payments in national currencies is an important aspect of any integration union. We do need to implement this mechanism if we want to ensure truly efficient cooperation between our business circles,” Andrey Beliyaninov, Chairman of the EDB Management Board, commented.
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)
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