The EDB Fund for Digital Initiatives clarifies which digital projects are considered integration-related
Moscow, 24 April 2023. The Eurasian Development Bank’s (EDB) Fund for Digital Initiatives discussed integration criteria as a key requirement for the digital projects eligible for its funding at an online meeting with IT companies from Kazakhstan.
Integration can be understood as cooperation between Eurasian countries and businesses; the creation of common markets and infrastructure; harmonisation and unification; the enhancement of the mutual flows of goods, services, capital, human resources, and technology; and the establishment and strengthening of contacts between companies, businesses, developers as well as research, technology and other actors.
The Fund for Digital Initiatives also presented the types of financing options available for digital integration projects, which include loans, equity participation, and grants.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For more than 17 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia and Tajikistan. 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’s operations are guided by the UN Sustainable Development Goals and ESG principles.
The EDB Fund for Digital Initiatives, which is supervised by Tigran Sargsyan, Vice Chairman of the EDB Management Board, was established in June 2020. Its objective is to assist the EDB member states in creating digital transformation tools and practices by integrating their information resources and participating in the development and financing of projects. The Fund’s flagship project is the COVID-19-Free Travel mobile app used in nine CIS countries.
The EDB Media Centre:
Aigerim Akhanova
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