The Eurasian Development Bank’s Board of Directors Meets
On Thursday, 2nd August in Moscow, the Eurasian Development Bank (EDB) held a board of directors meeting. Attendees included Viktor Khristenko, the Russian Minister of Industry and Energy and Chairman of the Board, and Mr. Galym Orazbakov, Kazakhstan’s Minister of Industry and Trade, as well as Mr. Kairat Kelimbetov, the CEO of the Kazyna Sustainable Development Fund.
The board approved the Bank’s annual report, accounting balance and profits and losses statement for 2006, as well as the Bank’s Revision Commission report. The board of directors declare the management board’s work in 2006 satisfactory, and appointed Deloitte the external auditor for the EDB’s 2006 financials.
The board also approved the management board’s proposal for allocating the Bank's 2006: half of profits will go towards forming the Bank’s reserves, and the remainder will remain as unallocated profits.
The EDB’s board approved the Bank’s allocation of funds towards conducting a comparative appraisal of projects of a technical and economic nature for the construction of a new shipping canal between the Caspian Sea and the Azov/Black Sea basin.
The board also approved the Bank’s adjusted budget for 2007 with new amendments and addenda.
Per the proposal of EDB's CEO, the board appointed Marat Dzhaukenov Vice CEO and Managing Finance Director. Mr. Dzhaukenov has also been appointed a member of the EDB management board.
EDB’s board of directors elected Viktor Khristenko chairman of the board and Galym Orazbakov deputy chairman of the board. The next board meeting is scheduled for September in Almaty.