The EDB Fund for Digital Initiatives takes part in the conference entitled Digitalisation of the Manufacturing, Fuel and Energy, and Petrochemical Complexes of the Republic of Belarus

14 October 2021

Moscow, 14 October 2021. Alexander Petrov, Director of the Eurasian Development Bank’s (EDB) Fund for Digital Initiatives Fund, took part in a forum on digital transformations in the manufacturing, fuel and energy, and petrochemical complexes of Belarus.

Alexander Petrov spoke about the activities of the EDB Fund for Digital Initiatives, the opportunities and risks associated with the development of cross-border digital ecosystems for the fuel and energy complex, possible areas of cooperation in the formation of Eurasian digital ecosystems, and the possibility of expanding exports through the development of cross-border digital ecosystems.

He noted that the digital transformation of the economy affects all levels of economic cooperation, from the emerging common EAEU energy markets to specific platform solutions that support processes complying with the technical regulations of the Customs Union. “We need to synchronise in-country and cooperative cross-border tasks for the digital transformation of industries. Each sector will need to develop and integrate hundreds of platform solutions,” he emphasised.

Additional Information: 

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For 15 years, the Bank has worked to strengthen and broaden 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. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations. 

The Eurasian Development Bank’s Fund for Digital Initiatives was established by the Bank’s Council on 30 June 2020. The Fund’s objective is to assist EDB member states in creating digital transformation tools and practices by integrating their information resources and participating in the development and financing of projects, including those implemented under the Eurasian Economic Union’s Digital Agenda 2025. 

The EDB Media Centre: 

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty) 

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

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