The Eurasian Economic Commission and Eurasian Development Bank sign a memorandum of cooperation
Moscow, 12 November 2013. The Eurasian Economic Commission (EEC) and Eurasian Development Bank (EDB) signed today a memorandum of cooperation. The document was executed by Viktor Khristenko, Chairman of the Board at the EEC, and Igor Finogenov, Chairman of the Management Board at EDB. The signature took place in the framework of the 8th Research-to-Practice Conference Deepening and Expanding Eurasian Integration held by EDB in Moscow.
The document states that the parties plan to cooperate in analysing and evaluating investment projects, prepare proposals to finance projects with an integration component and provide assistance in the fulfilment of these projects in the Customs Union and Single Economic Space (SES) member states.
The EEC and EDB also agreed to cooperate in the area of joint research, the creation of a research and forecasting system, and the creation and use of the tools of economic and mathematical research to study the economic potential of the Customs Union, the SES and the forthcoming Eurasian Economic Union.
Viktor Khristenko, Chairman of the Board at the EEC, said with respect to the signed memorandum that, “Eurasian Development Bank has become a reliable partner in the implementation of the largest, primarily infrastructure, projects in the Eurasian space that ensure the depth and sustainability of integration. The Bank proved itself to be a reliable analytical centre that is capable of undertaking quality research in the area of integration. I am convinced that our partnership will be of mutual benefit and will become a solid and quality basis for making managerial decisions in the future.”
Igor Finogenov, Chairman of the Management Board at EDB, said that, “We are sure that our joint work will contribute to the development of the market economy in the member states of the Bank and the EEC, their economic growth, the expansion of trade and economic ties between them and the fulfilment of integration projects in the Eurasian space.”
Additional Information
The Eurasian Economic Commission (EEC) is a permanent regulatory body of the Customs Union and the Single Economic Space (SES). The main task of the EEC is to provide conditions for the operation and development of the Customs Union and the SES as well as to prepare proposals on the advancement of integration. The EEC has three member countries: the Russian Federation, the Republic of Kazakhstan and the Republic of Belarus. It is a supranational governing body, which is governed in its work by the interests of the Eurasian community as a whole rather than those of any of the national governments. The decisions of the EEC are binding on the Customs Union and SES member states.
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. 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 at https://www.eabr.org.