BAKU, Azerbaijan, Dec.19
By Nargiz Sadikhova - Trend:
As of Dec. 1, 2019, value of investments portfolio of Eurasian Development Bank (EDB) exceeded $4 billion, 42 percent of which (approximately $504 million) accounted for projects in Kazakhstan, Trend reports with reference to EDB.
This was noted during the meeting of EDB Board chaired by Kazakhstan’s Prime Minister Askar Mamin. Authorized representatives of the bank's shareholders participated in the meeting.
According to EDB, results of EBD’s work in 2019 were discussed during the meeting, as well as goals and budget for 2020 were identified. The Board also discussed issues of approving major investment projects, implementation of digital initiatives and expansion of bank’s members’ list.
In addition, the Board has approved the program for funding projects in area of renewable energy sources (RES), funding of which is a priority for the bank.
According to Chairman of EDB’s Borad Andrey Belyaninov, the approved program is assessed to cost approximately $600 million.
As noted during the meeting, the investment portfolio of EDB exceeded $4 billion as of Dec.1, 2019, which is 18 percent more than during the same period of 2018.
“Over the course of 11 months of 2019, 23 new investment projects worth $1.2 billion were approved, including projects in energy (27.9 percent), infrastructure (22.4 percent), finance (15 percent) and other areas. The major share of EDB’s projects accounts for Russia (42.8 percent) and Kazakhstan (42 percent),” the report said.
The Eurasian Development Bank (EDB) is a regional development bank established by the Russia and Kazakhstan in 2006. The Bank's mission is to facilitate, through its investment activity, the development of market economies, economic growth and the expansion of trade and other economic ties in its member states.
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