The Eurasian Development Bank and GTLK sign a letter of intent
Sochi, 15 February 2018. The Eurasian Development Bank and the State Transport Leasing Company (GTLK) signed a letter of intent to promote cooperation and partnership in developing transport infrastructure in Russia and the Eurasian Economic Union.
The document was signed at the 17th International Investment Forum “Sochi 2018” by Andrey Beliyaninov, Chairman of the EDB Management Board, and Sergey Khramagin, GTLK General Director.
The agreement envisions cooperation in the area of infrastructure, which is important to both parties.
Transport projects accounted for 18.2% of the EDB’s investment portfolio as of 1 February 2018.
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 State Transport Leasing Company (GTLK) is Russia’s largest player in the lease market. It leases out aircraft, vessels, rail transport, road vehicles and special equipment to domestic transport enterprises and invests in the development of Russia's transport infrastructure. The company's sole shareholder is the Russian Federation represented by the Ministry of Transport. GTLK holds double-B ratings from the world’s three leading international rating agencies and an A+(RU) national rating from ACRA. As at 30 September 2017, GTLK's IFRS assets exceeded RUB 291 billion.
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