News — The EDB Fund for Digital Initiatives

The Eurasian Development Bank forecasts an increase in the aggregate GDP of its member countries by 3.2% in 2021, after a 3.8% decline in 2020. The easing of restrictions globally and in the region’s countries as the fight against the pandemic progresses will be a key factor in reviving economic activity. Due to weak investment demand and partial preservation of social distancing, the full recovery of the region’s GDP to pre-crisis levels will take time. Kazakhstan is expected to achieve it in the second half of 2021; Russia, the Kyrgyz Republic, and Armenia in the first half of 2022; and Belarus in 2023. Because of persistently high risks, the EDB’s projections remain shifted toward lower estimates

Fitch Ratings has affirmed the Eurasian Development Bank’s (EDB) long-term rating at ‘BBB+’. The outlook is Stable

The Eurasian Development Bank’s analysts assessed the economic effects of Tajikistan’s possible accession to the EAEU. The main advantages of the country’s possible joining the EAEU are expected to materialise in three areas: realisation of the advantages of the common labour market; the EAEU; and development of the country’s trade and investment potential. The authors estimate that the annual growth rate of the nation’s economy may increase by up to 3 percentage points

The Eurasian Development Bank (EDB) borrowed CNY 1.5 billion (around US $230 million) from the Export-Import Bank of China (Exim Bank of China) to finance transboundary transactions between China and the Bank’s member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The respective agreement was signed on 16 November 2020. The loan facility has been extended for five years

The Eurasian Development Bank (EDB) and the KAZAKH INVEST National Company signed a memorandum on the implementation of investment projects in Kazakhstan. The document was signed by Nikolai Podguzov, Chairman of the EDB’s Management Board, and Baurzhan Sartbayev, Chairman of the Management Board of KAZAKH INVEST

On 4 December 2020, the Eurasian Development Bank (EDB) will hold its First Eurasian Congress in Moscow. The highlight of the event will be the plenary session titled “Economic Pragmatism and Mutual Benefit as Key Pillars of Eurasian Economic Integration.” The invited attendees are the heads of governments of Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Moldova, Russia, Tajikistan, and Uzbekistan. The Congress will also include panel discussions on various aspects of Eurasian economic integration

The third start-up facility of the Central Ring Road in Moscow is now open for traffic. The project was implemented with financial support from the Eurasian Development Bank (EDB)

The Eurasian Development Bank (EDB), acting as the Resources Manager of the Eurasian Fund for Stabilization and Development (EFSD), transferred a US $50 million EFSD financial credit to Tajikistan

Nikolai Podguzov, Chairman of the Eurasian Development Bank’s (EDB) Management Board, and Abay Sarkulov, Chairman of the Management Board of the Development Bank of Kazakhstan (DBK), met to discuss cooperation between their respective financial institutions