Baku, Azerbaijan, Aug. 13
By Fikret Dolukhanov – Trend:
In 2018, the Eurasian Development Bank (EDB) will finance new projects worth about $1.1 billion, the EDB told Trend on Aug. 13.
According to the press service of the bank, this amount, in accordance with the strategic plans of the EDB, also includes projects in the Central Asian states.
The representative of the bank said that work is currently underway in this direction and negotiations are being held with clients.
The press service of the bank reminded that the Eurasian Fund for Stabilization and Development (EFSD) also plays a significant role in financing projects in Central Asia.
“The countries of Central Asia, in particular Kyrgyzstan and Tajikistan, receive substantial financial support from the EFSD on a regular basis, with the EDB managing the funds,” the bank representative noted.
The Eurasian Development Bank (EDB) 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 conceived by the presidents of the Russian Federation and the Republic of Kazakhstan and established in 2006 following the signing of an international agreement by the presidents on January 12 of that year.
As of August 1, 2018, the bank’s current investment portfolio totaled $3.092 billion and included 76 projects in six member states.
The EDB focuses primarily on energy, transportation and infrastructure projects. As of early August 2018, projects in these sectors accounted for 12.8 percent (energy generation) and 27.1 percent (transportation and infrastructure) of the total current investment portfolio.
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