The EDB’s net profits of the first half of 2018 exceed the planned annual level

06 August 2018

MOSCOW, 6 August 2018. The net profits of the Eurasian Development Bank (EDB) amounted to US $37.542 million in the first half of 2018, while the target fixed in the bank's strategy until 2022 for the whole year is at US $32 million.

The total amount under the EDB loan agreements exceeded US $1.579 billion in the first half of the year. It is worth noting that this is already above the total of the last year – US $1.115 billion.

An important event for the Bank was signing a Loan Agreement with “GTLK” PJSC to refinance the costs of building five river-sea oil tankers. The EBRD's share in the syndicated loan for the construction of the Central Part of the “Western High-Speed ​​Diameter” highway in St. Petersburg was replaced. The Bank provided funds for the construction of the Central Ring Road (Phase 3). A contract was signed with “Vodokanal of St. Petersburg” SUE to support the project related to the rehabilitation, development, and modernisation of the water supply facilities of the city.

The EDB seeks to meet the demand of its customers for funds in local currencies to the maximum possible extent, thus mitigating its clients’ currency risks. By end-2018, the plan is to tap the financial markets to additionally mobilise RUB 10-15 billion for up to 3-5 years and about KZT 30 billion for up to 5-7 years. Over the past six months, the Bank has mobilised RUB 15 billion and KZT 50 billion.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. 

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)                    

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

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

pressa@eabr.org

www.eabr.org

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