Bank profile – Eurasian Development Bank

The Eurasian Development Bank (the “EDB” or the “Bank”) is an international financial institution established to promote economic growth in its member states, extend trade and economic ties among them, and support integration in Eurasia through investment.

The Bank was founded by an international treaty – the Agreement Establishing the Eurasian Development Bank- signed by the authorized representatives of the Governments of the Russian Federation and the Republic of Kazakhstan on 12 January 2006 at the initiative of the Presidents of both countries.

The Republic of Armenia and the Republic of Tajikistan became full members of the Bank in 2009, the Republic of Belarus in 2010, and the Kyrgyz Republic in 2011.

Any country or international organisation that shares the EDB’s goals is eligible to join. A country or international organisation may accede to the EDB, subject to approval by the Bank’s Council after such states and organisations have signed the Agreement Establishing the EDB and purchased the Bank’s shares according to the established procedure.

The EDB’s greatest achievement of recent years has been its recognition as an international financial development institution specialising in regional integration.

The EDB’s main strategic objectives are:

  • searching for and financing integration projects; and
  • enhancing cooperation with the governments of its member states, international financial institutions, national development institutions and commercial banks in searching for and discussing new projects. 

The EDB manages the Eurasian Fund for Stabilization and Development (EFSD).

The EDB abides by the strictest environmental standards and invests only in projects that meet its exacting environmental criteria.

International credit ratings agencies have assigned ratings to the Bank on equal or higher terms than the individual sovereign ratings of its member states. This ensures that the Bank has access to international and national financial markets.

The Bank’s charter capital totals US $7 billion, including US $1.5 billion of paid-in capital and US $5.5 billion of callable capital.

The Bank has the status of an international organisation. As an entity regulated by international law, the EDB:

  • has international legal status;
  • has the rights of a legal entity on the territory of its member states.

Its legal status affords it the following privileges and benefits in its member states:

  • property and judicial immunity;
  • tax and customs exemptions;
  • protection from some of the risks resulting from changes in legislation and bank regulation in its member states.

In 2007 the Bank acquired the status of an observer at the UN General Assembly, the UN Trade and Development Board (UNCTAD), and at the Eurasian Group on Combating Money Laundering and the Financing of Terrorism (EAG).

The EDB operates in the countries with whose governments it has concluded agreements that establish the terms and conditions of its operations in such countries and where such agreements have come into legal force and effect.

The EDB’s head office is located in Almaty.

The Bank has a branch in St Petersburg and representative offices in Nur-Sultan, Bishkek, Dushanbe, Minsk, Moscow and Yerevan.