The working group for Vietnam’s accession to EDB meets in Hanoi

Almaty, 8 September 2014. The joint working group for the preparation of Vietnam’s accession to Eurasian Development Bank (EDB) met in Hanoi.

After the meeting Igor Finogenov, Chairman of the Management Board at EDB, had talks with Nguyễn Văn Bình, Governor of the State Bank of the Socialist Republic of Vietnam. At their meeting Nguyễn Văn Bình stated that the Vietnamese side plans to pass a decision of Vietnam’s possible accession to EDB before the end of the year.

In Hanoi EDB representatives also met with officials of some ministries and other authorities of Vietnam.

The Vietnamese side was provided with comprehensive information about the Bank, including its operations in the member states, key areas and terms of project activities, financing, the accession procedure, and its capital structure.

The Vietnamese side proposed a number of investment projects for consideration. The projects that are of most significant interest to Vietnam include the Bank’s possible participation in the expansion and upgrade of seaports and railroads and the construction of an airport near Ho Chi Minh City.

Additional Information

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://eabr.org/.