The EDB and Rosseti start strategic cooperation

04 December 2020

4 December 2020. The Eurasian Development Bank (EDB) and Rosseti made a strategic cooperation agreement at the First Eurasian Congress. The document was signed by Amangeldy Issenov, Deputy Chairman of the EDB Management Board, and Alexander Zaragatsky, Deputy Director General of Rosseti.

Under the agreement, the EDB intends to consider financing for Rosseti's projects, while Rosseti undertakes to consider projects proposed by the Bank in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan.

The parties intend to jointly assess the investment potential of the territories of the Bank’s operations that may be of interest to Rosseti, as well as the economic feasibility of investment projects in the power sector, including the development of power grids and the technological connectivity of facilities located in the EDB member states.

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 by Russia and Kazakhstan and is headquartered in Almaty. Transport infrastructure, energy, chemical, mining, and mechanical engineering projects with a high integration effect account for the main part of the EDB’s portfolio.

Rosseti is the operator of power grids in Russia and one of the world’s largest power grid companies. The company operates in 80 regions of Russia, maintaining 2.37 million km of power transmission lines, and 517,000 substations with transformer capacity of more than 802 GW. The Rosseti Group of Companies employs around 220,000 people. The asset portfolio of Rosseti includes 35 subsidiaries and affiliates, including 15 interregional ones, and a main grid company. The company’s controlling shareholder is the state represented by the Federal Agency for State Property Management of the Russian Federation, which holds 88.04% of the share capital.

Rosseti is headed by Pavel Livinsky, Director General.

Website: www.rosseti.ru.

Telegram: @rosseti_official

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