The EDB, VEB.RF, the Development Bank of Kazakhstan, and the Development Bank of the Republic of Belarus start joint investment

04 December 2020

Moscow, 4 December 2020. The Eurasian Development Bank (EDB), VEB.RF, the Development Bank of Kazakhstan (DBK), and the Development Bank of the Republic of Belarus (DBRB) signed a memorandum of cooperation to promote integration between the countries of the Eurasian Economic Union (EAEU). The signing ceremony took place in the sidelines of the First Eurasian Congress hosted by the EDB. The document was signed by Nikolai Podguzov, Chairman of the EDB’s Management Board, Igor Shuvalov, Chairman of the Management Board of VEB.RF, Abay Sarkulov, Chairman of the Management Board of the DBK, and Andrey Zhishkevich, Chairman of the Management Board of the DBRB.

The parties agreed to coordinate efforts to foster the integration of EAEU countries through investment, as well as to achieve common goals and implement joint initiatives of mutual interest.

“In addition to continuing our successful cooperation with each of the parties, the signed memorandum is also a new stage of relations among the key financial institutions of our countries aimed at the development and integration of EAEU countries,” said Nikolai Podguzov.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 by Russia and Kazakhstan and is headquartered in Almaty. Transport infrastructure, energy, chemical, mining, and mechanical engineering projects with a high integration effect account for the main part of the EDB’s portfolio.

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)

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