The EDB Council approves the Bank’s performance in 2021 with a record investment portfolio of US $4.5 billion
Nur-Sultan, 24 June 2022. The Eurasian Development Bank’s (EDB) Council chaired by Kazakhstan’s Prime Minister Alikhan Smailov approved the Bank’s performance indicators for 2021.
Against the backdrop of a general decline in business activity, in 2021 the EDB delivered its highest-ever current investment portfolio of US $4.5 billion, up 2% on 2020. Over the year, the Bank signed nineteen new project agreements. Projects with an integration effect accounted for 59.6% of the current investment portfolio. The EDB’s net profit for 2021 totalled US $37.1 million, 2.1 times higher than the target.
Amid extraordinary volatility in both global and local financial and commodity markets in early 2022, the EDB has maintained a stable financial position and capacity to implement the objectives of its Strategy for 2022–2026. The Bank aims to meet the target for new project signings. Particular attention will be paid to projects in Kazakhstan, Armenia, Tajikistan, and the Kyrgyz Republic under the relevant five-year country strategies.
Prior to the Bank’s Council meeting, Nikolai Podguzov, Chairman of the EDB Management Board, presented to Alikhan Smailov, Prime Minister of Kazakhstan and Chairman of the Council, the proposed key investment megaprojects in Eurasia. The Eurasian Transport Framework will unlock the logistics potential of the entire region by boosting transportation speed and volumes, ensuring seamlessness through digital solutions, and providing a combined effect of reducing the carbon footprint by 25% compared to the maritime route. The single Eurasian Commodity Distribution Network is expected to promote food security for more than 220 million people living in the EAEU+ countries and increase agricultural production by 5 to 7% per annum.
The development of the Central Asian water and energy complex is of particular strategic importance. This megaproject is expected to tangibly reduce water scarcity in the region and provide the necessary generation capacity by coordinating the joint development of the EDB member states’ energy systems.
Digital transformations in the region aim to create an ecosystem of autonomous digital projects with positive effects for all integration-related freedoms – the movement of goods, services, capital, and labour.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For 15 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 mainly consists of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
The EDB Media Centre:
Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)