The EDB extends US $95 million to Sovcombank to finance trade operations in the EAEU+
Moscow, 29 December 2021. The Eurasian Development Bank (EDB) is one of the mandated lead arrangers and bookrunners for a syndicated loan to Sovcombank (Russia). The Bank has extended US $95 million.
The funds will be used to finance trade contracts of Sovcombank’s clients, including supplies between the EDB member states.
“The Eurasian Development Bank’s involvement in this project continues our successful cooperation with Sovcombank. The EDB, together with a group of international and Russian investors, took part in the previous syndicated loan raised by Sovcombank, and we are pleased to play a part in the new project. Supporting trade transactions between the Bank’s member states is a priority for the EDB as it helps to deepen integration between the EAEU+ countries. We also welcome the social focus of this syndicated loan, which meets the EDB’s strategic goals and objectives in its countries of operation,” said Amangeldy Issenov, Vice Chairman of the EDB Management Board.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For 15 years, the Bank has worked to strengthen and broaden economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
The EDB Media Centre:
Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)
Sergey Gorbachev +7 (916) 727 22 00 (Moscow)