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EDB talks prioritized areas of projects’ funding in Kazakhstan(Exclusive)

Business Materials 13 September 2019 11:49 (UTC +04:00)

Baku, Azerbaijan, September 13

By Nargiz Sadikhova - Trend:

Eurasian Development Bank (EDB) is planning to pay greater attention to development and implementation of infrastructure projects, including those based on principle of public private partnership, Deputy Chairman of the Management Board of EDB Amangeldy Issenov told Trend.

Thus, according to the representative, the bank sees great interest in projects on construction of Big Almaty ring road (BAKAD) and the project on gas supply to Nur-Sultan (Saryarka pipeline) in Kazakhstan.

Answering the question on the prioritized areas of projects’ funding, Issenov noted, that EDB is planning to focus its efforts on those areas of development, within which the bank could play the most significant role and have greatest influence on process of integration of member countries’ economies, their balanced growth and increase of competitiveness.

Besides the above mentioned projects in Kazakhstan, the bank also considers its most important task to be identification, development and funding of projects, which provide for manufacturing of goods with most added cost, particularly of high-technology products, he said.

EDB is planning to continue developing cooperation with its key clients, i.e. major companies, the cooperation with which gives bank the opportunity to reach systemically important niches in prioritized areas for member countries’ economies.

“The bank will go on developing its clearing and settlement system in national currencies of member countries. The bank will go on actively cooperating with authorities of Eurasian Economic Union (EAEU) on systemic connectivity of bank to various mechanisms aimed at deepening of integration processes of economies of EAEU countries,” said Issenov.

The bank will continue developing cooperation of multilateral development banks operating in the region, including Asian Development Bank, New Development Bank, Black Sea Trade and Development Bank and others.

“We will work on further corporate development of the bank, improvement of its business processes. Bank is aiming to increase efficiency of its territorial representations by focusing their activities on investments process, i.e. identification, development and implementation of the projects,” Issenov noted.

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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