ALMATY, Kazakhstan, June 27. EDB's strategy envisages investing almost $11 billion in the economies of the shareholder countries by 2026, EDB's Chairman of the Board Nikolai Podguzov said during the opening ceremony of the EDB's annual meeting and business forum in Almaty, Trend reports.
"The challenges facing the region are global. It is impossible here without joining efforts," he emphasized.
According to him, no major international development bank can single-handedly build an infrastructure facility worth several billion dollars, whether it is a hydroelectric power plant or some transportation hub.
"Cooperation in the capital market is necessary. The cooperation of international development banks is especially useful where long-term international efforts are needed. In such projects, international banks perform an anchor function," Podguzov added.
To note, the EDB's annual meeting (business forum) is being held in Almaty and will last two days (June 27–28).
The event will include several sessions on Islamic finance, transportation, the environment, energy, and digital technologies.
The Eurasian Development Bank is a multilateral development bank engaged in investment activities in Eurasia.
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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