The Eurasian Development Bank takes part in the work of the Eurasian Intergovernmental Council and the Digital Agenda in the Globalisation Era Forum

02 February 2018

Almaty, 2 February 2018. The Eurasian Development Bank’s (EDB) delegation headed by Andrey Beliyaninov, Chair of the Management Board, took part in the work of the Eurasian Intergovernmental Council and the Digital Agenda in the Globalisation Era Forum. The first meeting of the Eurasian Intergovernmental Council this year, with the participation of the Prime Ministers of the Eurasian Economic Union (EAEU) and Tigran Sargsyan, Chairman of the Eurasian Economic Commission (EEC) Board, took place today, on 2 February. Dmitry Medvedev, Head of the Russian Government, chaired the summit.

In his speech at the meeting of the Eurasian Intergovernmental Council, Andrey Beliyaninov emphasised that the adoption of EEC-prepared regulations on the development, financing and implementation of interstate programmes and projects in the industrial sphere would be an important step towards harmonisation of the EAEU countries’ industrial sectors. The regulations envision the use of the EDB’s capabilities alongside financing from the EAEU countries’ budgets.

The head of the EDB pointed out that industry is the EDB’s top priority among sectors. Over years of its work, the EDB has invested around US $1.4 billion in processing industry projects, accounting for about a quarter of the Bank’s cumulative investment portfolio.

In conclusion, Andrey Beliyaninov stressed that the EDB aimed to foster production cooperation between the countries. The Bank gives priority to integration projects that promote mutual trade and/or mutual investment between the EDB member states, and the creation by their businesses of intercountry value chains. Such projects receive greater financing and lower interest rates.

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.

EDB Media Centre:

+7 (727) 244 40 44, ext. 6147 (Almaty)

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