BAKU, Azerbaijan, April 6. The investment portfolio of the Eurasian Development Bank (EDB), including implemented projects, amounted to $15.12 billion by early spring 2024, having almost doubled in five years, Trend reports via EDB.
The EDB's portfolio is structured with the following priorities: 31.5 percent is allocated to transportation projects, 23.3 percent to energy projects, 11.9 percent to mining projects, 7.9 percent to agribusiness projects, and the remainder is dedicated to various other sectors.
The April report from the EDB highlighted that within the Eurasia region, China is elevating its collaboration with Central Asian nations, driven by its keen interest in gaining access to oil, gas, coal, uranium resources, and renewable energy.
"Central Asian countries, in turn, need external investments to develop oil and gas resources, as well as funds to build up generating capacities (thermal power plants, hydroelectric power plants, renewable energy, and nuclear power plants) and modernize cross-border power transmission lines. China's accumulated direct investments in Central Asia, in the amount of 52 percent, relate to energy projects. This trend is also taken into account by the EDB when studying projects," the EDB report says.
"The Eurasian area continues to display good outcomes in the growth of the agricultural sector, preserving one of the world's highest potentials for agro-industrial development," the EDB adds in reference to the agro-industry, one of its top goals.
"Further realization of the existing potential will allow the Eurasian region to significantly increase its role in strengthening global food security to provide food to 600 million people by 2035," the bank emphasized.
EDB's current investment portfolio exceeds $5 billion and concerns 81 projects.
The Bank has been operating since 2006; its headquarters are located in Almaty, Kazakhstan, and it includes six CIS countries.