The EDB and ESCAP strengthen partnership with new Memorandum of Understanding
Astana, 3 September 2024. The Eurasian Development Bank (EDB) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) have signed a new Memorandum of Understanding during the Asia-Pacific Ministerial Conference on Digital Inclusion and Transformation in Astana, Kazakhstan. The signing ceremony was attended by Ms Armida Salsiah Alisjahbana, Executive Secretary of ESCAP, and Mr Nikolai Podguzov, Chairman of the EDB Management Board.
“This memorandum reaffirms the commitment of both organisations to collaborate on priority areas such as macroeconomic policy, financing for development, trade, investment, innovation, transport, water and energy, information and communication technology and disaster risk reduction. Special attention will be given to the joint preparation of analytical reports in these fields and the preparation of joint projects, consultations and other activities,” said Armida Salsiah Alisjahbana.
“The EDB and ESCAP share common goals in promoting socio-economic development, addressing pressing environmental challenges and achieving the Sustainable Development Goals in the Bank’s member countries. The EDB is particularly focused on the landlocked countries of Central Asia, enhancing transport connectivity in the region, modernising water and energy sectors, including irrigation, and establishing a Eurasian agricultural goods distribution system to contribute to regional food security. We are confident that this memorandum will provide the necessary momentum for our continued fruitful cooperation in these areas,” added Nikolai Podguzov.
The new MoU builds on the long-standing cooperation between the EDB and ESCAP, which began with their first agreement in 2013.
The EDB and ESCAP conduct joint studies on the region’s most pressing challenges. In 2021, for example, they prepared a joint report titled Sustainable Economic Transformations for Achieving the Sustainable Development Goals in North and Central Asia.
The signing of the MoU marks a new phase in the partnership between the institutions, aimed at promoting regional economic integration and sustainable development across Eurasia.
The Asia-Pacific Ministerial Conference, taking place from 3 to 5 September, focuses on digital inclusion and transformation. The event has brought together government leaders and ministers from the Asia-Pacific region, as well as other key stakeholders to discuss initiatives aimed at bridging the digital divide, fostering digital cooperation and promoting an inclusive digital economy in the region.
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.
Founded in 1947 in Shanghai, the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) is the largest of the United Nations’ five regional commissions in terms of geographical coverage and population served (53 member states, including Armenia, Kazakhstan, Kyrgyzstan, Russia and Tajikistan). ESCAP’s primary focus areas are environmental protection, natural resource management, investment cooperation, trade, energy and transportation.
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