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15:52 EDB offers bonds underwritten by Kazkommerts Securities at KASE
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Press Releases

President of Kazakhstan Nursultan Nazarbayev meets Dmitry Pankin, Chairman of the Management Board at EDB

President of Kazakhstan Nursultan Nazarbayev met with Dmitry Pankin, Chairman of the Management Board at EDB.

The head of state was provided with information about the Bank’s operations, its development prospects and priorities.

Nursultan Nazarbayev noted EDB’s initial and current objectives and emphasised the importance of integration projects.

“The main founders of the Bank are Russia and Kazakhstan. The Bank was established in the interests of the Eurasian Economic Union. The chosen area of operations is correct. I would propose that you consider the possibility of extending tenge loans in Kazakhstan,” the President of Kazakhstan said.

He also proposed that co-finance should be considered for projects initiated by the EAEU countries, “The Bank could finance joint transit, infrastructure, water and agrarian projects that would work for all the member countries. This will depend, in the first place, on the work by the Eurasian Economic Commission that should propose such projects.”

Dmitry Pankin told the President of Kazakhstan about new project agreements entered into by the Bank and its loan portfolio that was expanded significantly in 2016.

For reference:

Since the beginning of its operations, EDB financed projects for a total of US $5.64 billion, including 53 projects worth US $2.265 billion in Kazakhstan (40.1% of the cumulative portfolio). These were projects in mining, the power sector, agriculture and transport, in the first place. As at 1 April 2017, the Bank’s current investment portfolio totalled US $2.505 billion, with Kazakhstan accounting for 44.43% in the Bank’s overall investment portfolio. Thirty projects totalling US $3.407 billion are being fulfilled now in Kazakhstan, with the Bank’s share in them amounting to US $1.112 billion.

EDB’s projects in Kazakhstan are capable of generating mutual trade flows with other EDB countries (Russia, the Kyrgyz Republic, Belarus, Armenia, and Tajikistan) to the tune of US $2.172 billion a year. The Bank secured foreign investments in its projects totalling US $733 million.

EDB’s projects in Kazakhstan create approximately 7,500 jobs and can generate gross industrial output worth approximately US $2.411 billion. Tax and other compulsory payments by projects exceed US $296 million a year.

In 2016, the National Bank of Kazakhstan provided EDB with access to preferential finance in the tenge. The first credit limit of KZT 17 billion was disbursed in full. The Bank makes effort to obtain further short-term liquidity in the tenge and make it more affordable to our current and potential customers.

Additional Information

Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.

EDB Media Centre:
+7 (727) 244 05 45, ext. 6147 (Almaty)

+7 (495) 645 04 45, ext. 2724 (Moscow) (Москва)
e-mail: pressa@eabr.org

 

24 April, 2017

EDB Member States

  • Russian Federation

    Russian
    Federation

  • Republic of Kazakhstan

    Republic
    of Kazakhstan

  • Republic of Armenia

    Republic
    of Armenia

  • Republic of Tajikistan

    Republic
    of Tajikistan

  • Republic of Belarus

    Republic
    of Belarus

  • Kyrgyz Republic

    Kyrgyz
    Republic