The EDB to consider support for projects in the Alabuga Special Economic Zone
Moscow, 27 October 2021. The Eurasian Development Bank (EDB) will consider large-scale projects in Russia’s Alabuga Special Economic Zone, including financing of infrastructure and social facilities. The sides will also work to attract new residents to the zone, with a possibility to finance their projects with the EDB’s resources. This understanding resulted from a visit to Alaguba of the Bank’s delegation led by Sergey Ignatov, Head of the Directorate for Industry.
The delegation noted Alabuga’s high development potential thanks to its high-quality infrastructure, convenient location, and strategic investments in the development and recruitment of skilled labour. Currently, the zone hosts 57 residents, including Ford Sollers, Kastamonu, Hayat, 3M, and Rockwool. It has created more than 8,000 jobs. The investment disbursed has exceeded RUB 150 billion.
According to Nikos Topuzidis, Deputy CEO for Investment Relations, Alabuga is a full-cycle infrastructure partner that provides residents with utilities, personnel, premises, as well as financial and social infrastructure.
Alabuga Polytech, a cutting-edge training centre, has been set up to develop human resources. This year, it admitted 300 students from all over the country and launched four new programmes: BIM design, business informatics, programming in PYTHON, and microelectronics. In addition, Alabuga Polytech has been providing training in mechatronics, computer-aided control systems, electrical engineering, and chemistry for two years. These are the most in-demand and globally competitive high-tech professions.
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 EDB Media Centre:
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