By Natalia Maqsimchook, Deputy Head of Strategy and Research, Eurasian Development Bank
The key negative factor is the sharp aggravation of political risks in the region.
Almaty, 12 May 2014. The situation in the global economy evolves in a fashion which is relatively favourable for the CIS countries. This finding is suggested in the new issue of The CIS Macromonitor published by Eurasian Development Bank’s (EDB) Research Department. The increased growth in the global GDP (from 3% in 2013 to 3.5% in 2014), the recovered growth in developed countries and the high economic growth in China scale up the physical demand for primary exports from the CIS and limit the potential cuts in their prices
Igor Finogenov, Chairman of the Management Board at Eurasian Development Bank (EDB), and Nguyen Van Binh, Governor of the State Bank of Vietnam, had a meeting May 5 at the EDB headquarters in Almaty, the EDB said.
The meeting was initiated by the Vietnam side to discuss Vietnam’s accession to EDB as a full member. In the course of the negotiations Nguyen Van Binh stated that the visit by the Vietnamese delegation to Almaty was intended to confirm Vietnam’s serious intention to join EDB. The Governor of the State Bank of Vietnam emphasised that his country would undoubtedly become a worthy and reliable partner of EDB
Almaty, 5 May 2014. Igor Finogenov, Chairman of the Management Board at Eurasian Development Bank (EDB), and Nguyen Van Binh, Governor of the State Bank of Vietnam, met today at the EDB headquarters in Almaty. The meeting was initiated by the Vietnam side to discuss Vietnam’s accession to EDB as a full member
Almaty, 30 April 2014. Eurasian Development Bank (EDB) opened two loan facilities for Center-Invest Bank for a total of RUB 300 million to finance small and medium-sized enterprises (SME) and energy efficiency projects.
The funds were provided in the framework of the EDB targeted loan facility programmes for financial institutions: to support and develop SMEs and to improve energy efficiency in the Bank member states
On 28 April 2014 President of Kazakhstan Nursultan Nazarbayev delivered a lecture at the Lomonosov Moscow State University titled From the Idea of the Eurasian Union to New Prospects of Eurasian Integration.
In his lecture the head of Kazakhstan offered a deep analysis of the Eurasian integration process and elaborated on its core problems and key growth drivers. He also presented his vision of the prospects for the development of the Eurasian Economic Union in the near decades
Almaty, 28 April 2014. Following a recommendation from the Anti-Crisis Fund (ACF) Council, Tajik authorities and Eurasian Development Bank (EDB), as the ACF Resources Manager, began to prepare a
Astana, 24 April 2014. President of Kazakhstan Nursultan Nazarbayev and Igor Finogenov, Chairman of the Management Board at Eurasian Development Bank (EDB), met today in Astana. They discussed the main areas of EDB operations in Kazakhstan and the results achieved since its establishment in 2006 by the authorised representatives of Kazakhstan and Russia.
It was noted, in particular, that over this period the Bank invested more than US $2 billion in Kazakhstan’s economy and implemented 28 projects in various sectors, including the power sector, transport engineering, and the chemical sector. Another 28 projects are under consideration at the moment.
The head of state emphasised that EDB’s performance indicators confirmed its positive dynamics. Nursultan Nazarbayev said that Kazakhstan welcomed EDB’s intentions to enhance its operations, increase its capital and accept new members.
Igor Finogenov told about the key areas of EDB operations, focusing on top-priority projects, which are implemented in the framework of Kazakhstan’s national and sectoral programmes. In addition, the Bank’s headquarters in Almaty partner with second-tier banks to develop small- and medium-sized business financing.
The head of EDB also noted that the Bank took an active part in the advancement of Kazakhstan’s financial market and plans to issue its own securities, which will make it possible to increase project financing in the national currency