Baku, Azerbaijan, August 23
By Nargiz Sadikhova – Trend:
Eurasian Development Bank (EDB) and Kazakhstan Project Preparation Fund (KPPF) have signed a memorandum of understanding for establishment of long term mutually beneficial cooperation aimed at implementation of joint projects, Trend reports with reference to the press office of EDB.
“In order to implement the memorandum, both parties are to interact in the area of funding of individual investments projects, mutually beneficial cooperation within the countries of Eurasian Economic Union and the area of expertise exchange in mentioned above spheres by participating in seminars, conferences, business-forums and other events,” the report said.
“Furthermore, within the framework of the memorandum, EBD is to consider funding projects proposed by KPPF taking into account the existing EDB’s procedures and is to provide the fund with information on investments projects which could be of interest for KPPF,” the statement said.
The Eurasian Development 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 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 of those two countries on 12 January of that year.
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