News — The EDB Fund for Digital Initiatives

The Eurasian Development Bank (EDB), the Astana International Financial Centre Authority (AIFCA), and the Ministry of Finance of Belarus signed an agreement to promote green finance in Belarus using the AIFCA Green Finance Centre (a subsidiary of the AIFC Authority)

The Eurasian Development Bank (EDB) has provided Air Liquide with long-term financing of about €100 million to set up energy-efficient production of industrial gases in Novokuznetsk

The Eurasian Development Bank (EDB) has published an updated macroeconomic forecast for the Bank's operating region for 2021 and the medium term. In March, EDB analysts projected a strong recovery in the Bank’s member states, but the reality of the first half of the year exceeded expectations. As a result, the region’s largest economies Russia and Kazakhstan already reached the pre-pandemic levels by the end of Q2 2021, according to EDB estimates. The rapid recovery of the global economy, fuelled by credit and budgetary injections in developed countries, is accelerating inflation globally. Inflation in the EDB member states is moving in line with the global trend, with the regional average rising to 6.6% YoY in May 2021 from 5.6% in December 2020. Many inflationary factors will be neutralised with time. EDB analysts forecast that inflation in the Bank’s member states will slow to an average of 5.6% by the end of 2021 and return to target levels during 2022.

On 30 June 2021, the Eurasian Development Bank (EDB), the region’s leading multilateral development bank, offered a three-year KZT 21.5 billion Eurobond issue with a coupon of 10%, listed on the Irish Stock Exchange. The transaction will be settled on 8 July

The Council of the Eurasian Development Bank (EDB) chaired by Askar Mamin, Prime Minister of Kazakhstan, approved the EDB’s Strategy for 2022–2026. The participants in the meeting were the representative plenipotentiary of the Bank’s shareholders, including Mher Grigoryan, Deputy Prime Minister, Armenia; Yuri Seliverstov, Minister of Finance, Belarus; Alikhan Smailov, First Deputy Prime Minister, Kazakhstan; Akylbek Japarov, Deputy Prime Minister and Minister of Economy and Finance, Kyrgyz Republic; Anton Siluanov, Minister of Finance, Russia; and Yusuf Majidi, Deputy Minister of Finance, Tajikistan

The Kyrgyz Republic received state-of-the-art medical road trains as part of the Caravan of Health project financed by a grant from the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB). Akylbek Japarov, Deputy Chairman of the Cabinet of Ministers and Minister of Economy and Finance of the Kyrgyz Republic, and Andrey Shirokov, Acting Executive Director of the EFSD Project Unit, took part in the video bridge and Andrey Shirokov congratulated the Kyrgyz side on the launch of this important project

The Eurasian Development Bank’s analysts have assessed the potential effects of Uzbekistan’s integration with the Eurasian Economic Union (EAEU, the Union). Integration is expected to benefit both Uzbekistan and the current EAEU member states. The EAEU’s potential infrastructure investments in Uzbekistan are estimated at $1-1.5 billion annually. Additional remittances to Uzbekistan could average $1.5-2 billion a year. The country’s exports to EAEU member countries may grow by an extra $1.2 billion. The current EAEU member states are expected to expand industrial cooperation and investment presence in the country and intensify cross-border infrastructure projects. The unrealised potential of EAEU exports to Uzbekistan is estimated at $1.6 billion

Alexander Petrov, Director of the Eurasian Development Bank’s (EDB) Fund for Digital Initiatives Fund, took part in Digital Industry of Industrial Russia (CIPR), a forum on the development of the digital economy and the digital transformation of industry