The Eurasian Development Bank and the World Bank have held a joint conference on development prospects of the EurAsEC countries
Almaty, 4 March 2013. The Eurasian Development Bank (EDB) and the World Bank (WB) held their second research and practice conference on development prospects of the global economy and its impact on the EurAsEC member states.
Top-ranking EDB and WB experts monitoring the developments in the ECA region attended the conference. The keynote speakers at the conference were: Hans Timmer, Director of the WB Development Prospects Group, USA, and two representatives of the private sector — Natalia Orlova, Chief Economist, Alfa Bank, Russia, and Evgeny Nadorshin, Managing Director for Macroeconomic Analysis, Strategy, and Business Development, Sistema JSFC, Russia. Evgeny Khotulev, Head of Macroeconomic Policy Department of the Eurasian Economic Commission, took part in the conference as a special guest of the EDB. Yvonne Tsikata, Director of the WB Department for Poverty Reduction and Economic Management, ECA Region, and Sergey Shatalov, Deputy Chairman of the EDB Management Board,
The conference focused on the trends of global economic development and their potential implications for the economies of the EurAsEC member states, on key prerequisites for long-term sustainable economic growth and structural reforms required to enable it, as well as on integration trends in the EurAsEC and CIS area, including mutual investments in the countries of the region.
The conference materials will be posted on the website of the EurAsEC Anti-Crisis Fund.
The conference was organized in accordance with the Indicative Implementation Plan for the Framework Cooperation Agreement between the World Bank and the EDB for
• Coordination of economic assessment programs in the EurAsEC countries;
• Joint preparation and implementation of infrastructure, energy, and institutional capacity building projects;
• Promotion of regional cooperation in trade, investments, and labor migration; and
• Enhancement of the EDB’s expertise in issues related to monitoring and simulation of macroeconomic developments, analysis of countries’ debt sustainability, public finance management, project monitoring and evaluation, procurement policies and techniques, environmental and social protection strategies for project implementation.
The Framework Cooperation Agreement, which outlined the format of mutual engagement between the World Bank and the Eurasian Development Bank, was signed in March 2011.
Additional Information
The World Bank Group is made up of five unique international development institutions owned by 187 member countries: the International Bank for Reconstruction and Development (IBRD) together with the International Development Association (IDA) — widely known as the World Bank, the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). Each of these World Bank Group institutions plays a different, but collaborative role in advancing the vision of inclusive and sustainable economic growth in a globalized world. The IBRD aims to support growth in middle-income countries and reduce poverty in creditworthy poorer countries, while the IDA focuses on the world’s poorest states.
Read more about the WB at https://worldbank.org/russia
The Eurasian Development Bank 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 exceeds US $1.5 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.
Read more about the EDB at https://www.eabr.org