ArmInfo.Armenia`s country strategy has been worked out and is being agreed on with the stockholders, Nikolai Podguzov, Chairman of the Management Board, Eurasian Development Bank (EDB), told reporters on the sidelines of the 2nd Eurasian Congress on Moscow. In this context, in mid-2021 the EDB adopted its grand strategy and, later, country strategies with information on the implementation of the EDB grand strategy in each country.
"As far as I know, this strategy has been agreed on with Armenian government and stockholders. And we are going to adopt and implement it," Mr Podguzov said. In fact, the EDB is actively implementing the strategy now.
Mr Podguzov said he visited Yerevan a few weeks ago and held meetings with government officials and businessmen. He pointed out a number of projects on the agenda - agricultural and infrastructure ones, with the Yerevan Underground modernization project being one of them.
"This year we have funded the delivery of several dozen railway car to Armenia. In fact, we are planning to intensify our work in Armenia, as well as in the other countries, where our portfolio is not as that substantial yet," Podguzov said.
The Eurasian Development Bank (EDB) 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 founded by an international treaty - the Agreement Establishing the Eurasian Development Bank- signed by the authorized representatives of the Governments of the Russian Federation and the Republic of Kazakhstan on 12 January 2006 at the initiative of the Presidents of both countries. The Bank's charter capital totals US $7 billion, including US $1.5 billion of paid-in capital and US $5.5 billion of callable capital.
The EDB members are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia Tajikistan. According to the EDB 2022-2026 strategy, the Bank`s investments in Armenia, Kyrgyzstan and Tajikistan are to total $500mln by 2026. Special strategies will be worked out for each member-state, with each country`s macroeconomic figures considered.
To achieve sustainable development goals and intensify its planned activities in small economies, the Bank plans prompt response to demand and enhancement of its offices` quality, a flexible approach to forming prices for different products and to implementation of projects.
