Askar Mamin held a meeting of the Council of Eurasian Development Bank
The meeting of the Council of the Eurasian Development Bank (EDB) was held at the Astana International Financial Center (AIFC) under the chairmanship of the Prime Minister of the Republic of Kazakhstan Askar Mamin, primeminister.kz reports.
The meeting was attended by plenipotentiary representatives of the bank’s shareholders: from Armenia - Deputy Prime Minister Mher Grigoryan and Deputy Minister of Finance Armen Hayrapetyan, Belarus - Minister of Finance Maksim Ermolovich and Minister of Economy Dmitry Krutoy, Kyrgyzstan - Minister of Finance Baktygul Zheenbaeva and Minister of Economy Sanzhar Mukanbetov, Russia - First Deputy Prime Minister – Minister of Finance Anton Siluanov and Deputy Minister of Finance Sergey Storchak, Tajikistan - Minister of Finance Faiziddin Qahhorzoda and Minister of Economic Development and Trade Zavki Amin Zavkizoda, Kazakhstan - First Deputy Prime Minister - Minister of Finance Alikhan Smailov.
Prior to the meeting, the official opening ceremony of the Bank’s office in the AIFC was held - EDB became the first development bank, which is located in the Astana International Financial Center.
“The EDB makes a significant contribution to the development of cooperation between the member states of the Eurasian Economic Union and the financing of joint projects,” said Askar Mamin.
The meeting discussed the results of the work of the Eurasian Development Bank in 2019 and set targets for 2020. The Council considered the issues of approving large investment projects, implementing digital initiatives as well as expanding the membership of the Bank.
The EDB investment portfolio as of December, 1 of this year exceeded USD4 billion, an increase compared to 2018 amounted to 18% (USD621 million). Over the 11 months of this year, 23 new investment projects were signed worth USD1.2 billion, covering the energy sector (27.9%), infrastructure (22.4%), financial sector (15.0%) and other industries. The country structure of the Bank’s investment portfolio is dominated by projects in Russia (42.8%) and Kazakhstan (42%). 11.2% accounts for Belarus, 2.3% for Armenia, 1.6% for Kyrgyzstan, 0.1% for Tajikistan.
This year, the EDB launched settlement services for financial institutions - local banks, implementing the concept of "bank for banks" and local exchanges. As of December 1, 134 accounts were opened for 40 financial institutions.