Yerevan, 14 April 2015. Today, the Republic of Armenia and Eurasian Development Bank (EDB) signed an agreement in Yerevan on the provision of an investment credit from the Eurasian Economic Community’ Anti-Crisis Fund (ACF) to finance the construction of the North-South road corridor (Phase 4). The credit totals US $150 million and will be provided for twenty years.
The agreement was signed during EDB’s visit to Armenia. The delegation was headed by Dmitry Pankin, Chairman of the Management Board. The project will help to increase transport capacity and reduce accidents at the 20.5 km section of the North-South road from Agarak towards Kajaran. In addition, it will help to provide favourable transport conditions for adjacent settlements and boost cargo transit through Armenia, to other EDB member states in particular.
“On 2 April 2015 the ACF Council approved the draft agreement for this project and it was signed today,” says Dmitry Pankin, Chairman of the Management Board at EDB. “In addition, EDB is considering possibilities to finance other projects in Armenia in the area of mining, power, transport and warehouse infrastructure”
However, because of a floating exchange rate of the rouble, other CIS countries need to take macroeconomic measures to prevent increases in external imbalances.
Almaty, 31 March 2015. At year-end, the aggregate GDP of the CIS countries is expected to go down by 2.4% and in 2016 it will resume growth at approximately 1.8%. This is suggested in the new issue of The CIS Macromonitor published by the Research Department of Eurasian Development Bank (EDB).
The Bank backs this forecast with assumptions that in 2015 oil prices will moderately restore and sanctions against Russia caused by the Ukrainian crisis will not be strengthened. In particular, its researchers believe that the average price of Brent in 2015 will be US $60 per barrel and will rise more in 2016
A large-scale poll of enterprises in Belarus, Kazakhstan and Russia suggests that non-tariff barriers account 15% to 30% of the value of exports.
St. Petersburg, 17 March 2015. Non-tariff barriers are a significant problem for the mutual flows of goods and services between the countries of the Eurasian Economic Union (EEU). This is the main finding of report titled An Assessment of the Economic Effects of Lifting Non-Tariff Barriers in the EEU, which provides the first comprehensive assessment of the effects of non-tariff barriers on mutual trade and makes recommendations as to how to remove them. The report has been prepared by Eurasian Development Bank’s (EDB) Centre for Integration Studies based on a poll of 530 Russian, Kazakh and Belarusian exporters
Moscow, 2 March 2014. A mission of the project team of the Eurasian Development Bank — Resources Manager of the EurAsEC Anti-Crisis Fund (ACF) — took place in the Republic of Armenia in the period 24 to 27 February. During the mission, the project team experts of the ACF met with Vache Gabrielyan, Vice-Prime Minister, Gagik Khachatryan, Minister of Finance, Karen Chshmarityan, Minister of Economic Development, Sergo Karapetyan, Minister of Agriculture, and Joseph Isayan, Deputy Minister of Energy and Natural Resources, to outline vectors of further cooperation and identify potential projects in transport, energy and agricultural sectors, considered for financing by the Fund
Moscow, 24 February 2015. The main objective today is to work closely with the founders and members of Eurasian Development Bank (EDB) in order to clearly understand their expectations of the Bank and their view of how it performs. Dmitry Pankin, Chairman of the Management Board at EDB, said this today during a press briefing. “This will be the basis for us to decide, in which strategic tasks of the countries and the region as a whole EDB should take part, and what are the specific features of the projects it should finance,” he said
Almaty, 17 February 2015. Eurasian Development Bank (EDB) rated A3 by Moody’s, BBB by S&P, and SOV/CCO by the Organisation for Economic Co-operation and Development (OECD) published its IFRS statements for 2014. The statements were audited by KPMG Audit, an independent auditor
Moscow, 6 February 2015. A scheduled meeting of the Council of Eurasian Development Bank (EDB) took place in Moscow. The range of its participants included: from the Republic of Armenia — Deputy Minister of Energy and Natural Resources of the Republic of Armenia Iosif Isayan; from the Republic of Belarus — Minister of Finance Vladimir Amarin; from the Republic of Kazakhstan — Minister of Finance Bahyt Sultanov; from the Kyrgyz Republic — Minister of Finance Olga Lavrova; from the Russian Federation — Minister of Finance Anton Siluanov, Deputy Minister of Finance Dmitriy Pankin; from the Republic of Tajikistan — Minister of Finance Abdusalom Kurbonov.
The Bank’s Council has elected Dmitry Pankin Chairman of EDB’s Management Board. He will assume his office on 18 February 2015.
The Bank’s Council has also appointed Maxim Korzhov new Deputy Chairman of the Bank’s Management Board.
The Bank’s Council has approved 2014 Annual Report of the Management Board and the Bank’s reports on its aggregate income and financial position, taking into account the auditors’ report for 2014 prepared by KPMG Audit LLP
St. Petersburg, 28 January 2015. Eurasian Development Bank (EDB) and the A Plus Group of Companies signed a long-term loan agreement to finance the construction of facilities in A Plus Shushary industrial park. The borrower on the part of the A Plus Group, the parent company in which is A Plus Development, is Park Shushary
Almaty, 23 December 2014. Eurasian Development Bank (EDB) and the World Bank Group (WBG) signed the Collaboration Arrangement relating to the Global Infrastructure Facility (GIF) Partnership Programme. The document was executed by Igor Finogenov, Chairman of the Management Board at EDB, and Bertrand Badré, Managing Director and World Bank Group Chief Financial Officer