ALMATY, Kazakhstan, June 27. An opening ceremony of the Eurasian Development Bank (EDB) Annual Meeting and Business Forum has taken place in Almaty, Trend reports.
During the opening ceremony, Kazakhstan's Deputy Minister of Finance, Dauren Kenbeil, read an address from the country's Prime Minister, Olzhas Bektenov.
"The EDB plays an increasingly important role in implementing the large-scale economic development plans of its member states and deepening Eurasian integration. Nearly two-thirds of its projects have an integrative effect, contributing to the expansion of trade and economic ties among the countries in the region. The bank acts as a catalyst for key cross-border projects in energy, infrastructure, industry, agriculture, and digitalization.
At the same time, the EDB has become a leader among international development banks in non-sovereign financing. The bank's long-term economic development vision and sector expertise are in high demand both within the EAEU and beyond.
The bank's cooperation with international partners is strengthening, aimed at helping member countries achieve sustainable development goals," Kenbeil said, reading the prime minister's address.
Then, the Chairman of the EDB Management Board, Nikolai Podguzov, delivered a welcoming speech.
According to him, the EDB's strategy envisions investing nearly $11 billion into the economies of its shareholder countries by 2026.
"The challenges facing the region are global. And it is impossible to overcome them without combining efforts," he said.
Podguzov pointed out that no major international development bank can single-handedly build an infrastructure project worth several billion dollars, whether it is a hydroelectric power plant or a transportation hub.
"Collaboration in the capital markets is necessary. Cooperation among international development banks is especially useful where long-term international efforts are needed. In such projects, international banks play an anchor role," he added.
To note, the EDB's Annual Meeting and Business Forum will continue for two days.
The events will feature a series of sessions on the topics of Islamic finance, transport, ecology, energy, and digital technologies.
The Eurasian Development Bank is a multilateral development bank carrying out investment activities in the Eurasian region.
The authorized capital of the EDB is $7 billion. The main share of the EDB's portfolio is occupied by projects with integration effects in the areas of transportation infrastructure, digital systems, green energy, agriculture, industry, and machine building.
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