Moscow, 15 September 2014. Eurasian Development Bank (EDB) and Russian Towers signed a ten-year loan facility agreement for a total of RUB 2 billion.
In accordance with the agreement, the loan will be used to develop the company’s telecommunications infrastructure throughout Russia. In particular, the project envisages the construction and upgrade of antenna masts and towers to be shared by mobile network operators. The loan from EDB is expected to increase the portfolio of facilities managed by Russian Towers to 2,000 by the end of 2016.
Gennady Zhuzhlev, Deputy Chairman of the Management Board at EDB, believes that, „This project will make it possible for operators to lower their costs, decrease the time for establishing telecommunications infrastructure, and optimise their operations.”
EDB expects that the project will contribute to the improvement of competition and quality in the Russian market in mobile services
Almaty, 8 September 2014. The joint working group for the preparation of Vietnam’s accession to Eurasian Development Bank (EDB) met in Hanoi.
After the meeting Igor Finogenov, Chairman of the Management Board at EDB, had talks with Nguyễn Văn Bình, Governor of the State Bank of the Socialist Republic of Vietnam. At their meeting Nguyễn Văn Bình stated that the Vietnamese side plans to pass a decision of Vietnam’s possible accession to EDB before the end of the year
Almaty, 4 September 2014. Eurasian Development Bank (EDB) will provide technical assistance to the Academy of Public Administration under the President of the Kyrgyz Republic in implementing a project to develop cooperation between the Kyrgyz and Russian research and expert communities by means of lectures and research-into-practice workshops on economics and management. The project is part of the Programme for Regional Integration Research of the EDB Technical Assistance Fund
Almaty, 29 August 2014. Eurasian Development Bank (EDB) will provide US $10 million to Belgazprombank (Belarus) to finance its clients’ projects.
In accordance with the documents signed the targeted loan facility will be provided for five years. The funds will be used to develop the agroindustrial sector in Belarus. Twenty percent of finance will be used to purchase agricultural machinery produced in EDB member states
Minsk, 28 August 2014. Eurasian Development Bank (EDB) and the Alutech Group of Companies signed today a EUR 25 million loan facility agreement for three years. The facility will be available for the Group’s manufacturing enterprises Alumin Techno, Alutech Inc. and Alutech Door Systems.
In accordance with the agreement, the loan will be used to develop the Group’s business and ensure the supplies and exports of Belarusian metal products to Russia.
“The Alutech Group of Companies has stable financial indicators, which are improving continuously. Given its good standing, Alutech can obtain loans on very good terms, which is proven by the agreements signed today. The loan will make it possible to boost production and ensure additional revenues for the Group’s enterprises,” says Gennady Zhuzhlev. “The project will promote the enhancement of mutual trade between Belarus and Russia, where the Group supplies approximately 65% of its products. The loan will make it possible for Alutech to increase its sales by at least 60% over the next five years”
Minsk, 18 August 2014. Eurasian Development Bank (EDB) will provide US $15 million to the Minsk Electrotechnical Plant named after Vasily Kozlov (METZ). The respective loan agreement on the financing of a project to upgrade transformer production was signed today in Minsk by Gennady Zhuzhlev, Deputy Chairman of the Management Board at EDB, and Alexander Radevich, General Director of METZ
EDB has published its interim financial statements according to IFRS
Almaty, __ August 2014. Eurasian Development Bank (EDB), rated by two major international rating agencies — Moody’s (A3) and S&P (BBB), has published its interim financial statements according to IFRS for six months of 2014
Almaty, 24 July 2014. Eurasian Development Bank (EDB) announces the end of the 5th Research and Publications Contest under the Regional Integration Research Programme of the Technical Assistance Fund of EDB and would like to compliment the winners
These developments have affected all the major groups of countries in the region
Almaty, 23 July 2014. In Q1 2014, the GDP growth in the CIS countries slowed down to 1.2% compared to the same period of 2013. Its deceleration is primarily explained by the decline in investment activity in Russia and its slower growth in Kazakhstan. This conclusion is suggested in the new issue of the CIS Macromonitor published by Eurasian Development Bank’s (EDB) Research Department