The EDB hosts a session on emerging markets and developing countries on the sidelines of the World Bank Annual Meetings
Marrakech, Marocco. 11 October 2023. The Eurasian Development Bank (EDB) hosted a session for multilateral development institutions on emerging markets and developing countries on the sidelines of the Annual Meetings of the World Bank Group and the International Monetary Fund that are taking place from 9 to 15 October in Marrakech, Morocco.
This event, co-hosted by the Africa Finance Corporation (AFC) and FONPLATA, a South American development bank, brought together representatives from multilateral development banks, finance institutions and international business media.
“We aim to create a platform for dialogue, facilitating discussions on the challenges and opportunities facing emerging markets and developing countries. We believe that joint efforts and knowledge sharing are the only way for us to formulate strategies and solutions that will contribute to the sustainable development of our region and the global economy,” said Nikolai Podguzov, Chairman of the EDB Management Board.
Evgeny Vinokurov, EDB Chief Economist, presented a report titled Cross-Border Public-Private Partnerships and highlighted that PPPs are pivotal for infrastructure development in both developed and developing countries. However, they have primarily been implemented on a national scale rather than internationally. The Bank’s research reveals that large-scale cross-border projects are bridging critical infrastructure gaps, particularly in landlocked developing nations. PPPs often prove to be the most efficient means of implementing such projects.
To date, more than 20 cross-border PPP projects worldwide are successfully developing transportation infrastructure (railways, highways, pipelines, bridges and tunnels), as well as electricity and telecommunications. Implementing cross-border PPPs is challenging as they are both capital-intensive and involve legal, commercial, financial and political risks. MDBs play a crucial role in ensuring the success of such ventures.
The active involvement of MDBs could establish a framework for the successful completion of cross-border PPPs.
Ato Gyasi, Senior Director, AFC Investments Group, shared the corporation’s experiences in Africa, emphasising their significant income. AFC’s investment banking and management practice covers 42 countries. He highlighted that Africa was often perceived as a single entity, which is erroneous and results in many mistakes, as each country has its specific features that need to be considered.
Rafael Ranieri from FONPLATA presented the bank’s expertise in fostering more inclusive and sustainable multilateral financing. The bank was established in 1974. Today, its shareholders are Argentina, Bolivia, Brazil, Paraguay and Uruguay. According to a memorandum signed this year, the EDB and FONPLATA plan to co-finance and provide financial assistance for sustainable development and infrastructure projects in countries, regions and locations of mutual interest. The EDB and FONPLATA are considering the establishment of a trust fund to invest in or co-finance projects.
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. The Bank’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.
Eurasian Development Bank
Aigerim Akhanova
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