The EDB is ready to finance Tatarstan’s joint projects with Kazakhstan
Moscow, 10 February 2022. Nikolai Podguzov, Chairman of the Eurasian Development Bank’s (EDB) Management Board, met with Rustam Minnikhanov, President of Tatarstan, and confirmed the Bank’s readiness to finance Tatarstan’s joint investment projects with Kazakhstan. Nikolai Podguzov and Rustam Minnikhanov also discussed promising investment projects in manufacturing, infrastructure, and the development of the Alabuga Special Economic Zone (SEZ).
The EDB’s delegation arrived in Kazan just before the visit of Kassym-Jomart Tokayev, President of Kazakhstan.
Nikolai Podguzov informed Rustam Minnikhanov of the Bank’s readiness to participate in financing TATNEFT’s projects in Kazakhstan. These include the construction of a plant to manufacture butadiene rubber used in tyre production in the Atyrau Region and a tyre plant in the Karaganda Region.
The sides also discussed the Bank’s ongoing project to enhance the KAMAZ model range and upgrade its production capacity. The EDB is a minority shareholder in KAMAZ with a 3.72% stake.
Meeting agenda also included the development of Russia’s largest SEZ, Alabuga. On 2 December 2021, a partnership agreement was signed at the EDB’s Eurasian Congress to finance the construction of SEZ infrastructure over the next five years. The partnership focuses on financing social infrastructure and launching new sites and resident projects in the SEZ.
Nikolai Podguzov also told Rustam Minnikhanov about the EAEU’s key investment projects being implemented by the Bank. Among them is the Eurasian Transport Framework, which includes the North–South and Europe–Western China transport corridors (running through Tatarstan). Over the past few years, the EDB has been actively involved in building these corridors in both Russia and Kazakhstan. The project will provide logistical advantages and reduce costs for businesses involved in import and export chains.
Nikolai Podguzov confirmed the Bank’s intention to participate in transport infrastructure projects linking Tatarstan with other Russia’s regions and the EAEU countries as part of the Eurasian Transport Framework. In particular, the EDB plans to support the financing of the Moscow–Kazan, Kazan–Yekaterinburg and Shali–Bavly highways to be built as part of the Europe–Western China transport corridor.
“Tatarstan is actively developing transport and logistics infrastructure, exports and international cooperation, as well as digital technologies and manufacturing, including with the EAEU countries. We stand ready to fully support integration and cooperation projects in Tatarstan, including joint investment projects with Kazakhstan. The opportunities that the EDB is willing to offer as an international development institution and the expansion of our cooperation in these areas will have a high multiplier effect,” said Nikolai Podguzov.
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 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. 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.
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