EDB wants to see Uzbekistan among its shareholders
By Abdul Kerimkhanov
The Eurasian Development Bank (EDB) is interested in seeing Uzbekistan in its composition, Chairman of the EDB Board Andrey Belyaninov said on November 23.
Amangeldy Isenov, Deputy Chairman of EDB, expressed regret that Uzbekistan is not a member of the bank, which EDB would very much like. Because EDB evaluates the prospects for working with this country, the economy is growing, and EDB would very much like Uzbekistan to become a shareholder of the bank, said Isenov within the framework of the international conference "Eurasian Economic Integration" in Moscow on November 22.
He added that EDB conducted preliminary work, travelled, met, we even had serious plans for credit work on the territory of Uzbekistan. It would be beneficial for all participants of our bank, he concluded.
In September, the EDB announced plans to open a representative office in Uzbekistan.
The Eurasian Development Bank (EDB) is an international financial organization established by Russia and Kazakhstan in January 2006 to facilitate the development of the market economy of the member states, their sustainable economic growth and expansion of mutual trading-economic relations, and support integration in Eurasia through investment. The authorized capital of the EDB is $7 billion. The member states of the bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.
The EDB was conceived by the presidents of Russia and the Republic of Kazakhstan and established in 2006, following the signing of an international agreement by the presidents of those two countries on January 12 of that year.
As of August 1, 2018, the current investment portfolio of the bank amounted to $3.092 billion and included 76 projects in six member states of the bank.
The balance sheet portfolio (excluding provisions and discounts) has amounted to $2.072 billion. The total amount of the bank's investments in the economies of the member states has reached $6.999 billion.
The bank gives priority to the financing of projects for the development of energy, transport and infrastructure sectors. As of August 1, 2018, projects in these sectors accounted for more than 50 percent of the current investment portfolio.
In January-June 2018, the EDB earned a net profit in the amount of $37,5 million. At the same time, the benchmark set in the bank's strategy until 2022 for the entire current year is at the level of $ 32 million.
The total amount of credit agreements concluded by the EDB in January-June 2018 exceeded $1.6 billion. This figure has already exceeded the result of the entire last year amounting to $1.1 billion.
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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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