World Bank and EDB Discussed Prospective Co-operation in Washington

Almaty, 11 October 2010. As part of the annual World Bank and International Monetary Fund session, a roundtable of the heads of the EDB and the World Bank was held in Washington. The event was attended by Philippe Le Houérou, Vice-President of the World Bank for Europe and Central Asia, and Igor Finogenov, Chairman of the EDB Executive Board.

The participants discussed the prospects for co-operation between the EDB and the World Bank in co-financing investment projects, particularly, in water energy and transport in Central Asia and the Caucasus, joint analytical work, and technical assistance programmes.

“The World Bank has vast experience and expertise and a successful track record in different regions of the world”, said Igor Finogenov. “This experience is of critical importance for the Eurasian Development Bank as the youngest member of the family of international development institutions, and we are grateful to the World Bank for its willingness to share this experience”.

In October 2009 the International Bank of Reconstruction and Development (IBRD) and the EDB signed a memorandum of understanding which laid the foundation for co-operation between these international organisations in promoting sustainable economic and social development of their member states.

During his stay in Washington Finogenov also had a number of bilateral meetings, particularly, with Michel Mordasini, Executive Director of the IBRD, and Marc Juhel, Acting Director of the IBRD Energy, Transport and Water Resources Department. The parties discussed, inter alia, co-operation in addressing the problems of the poorest Eurasian countries.

Finogenov also met with Luis Albert Moreno, President of the Interamerican Development Bank (IDB), who shared his valuable experience in corporate governance and strategic development.