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Monday, June 25, 2018

EDB, IIB agree to expand investment collaboration

The Eurasian Development Bank (EDB) and the International Investment Bank (IIB) signed a memo of understanding to increase cooperation between the two institutions, the EBD said Friday.

The banks plan to increase the amount of co-financing projects in which they have been investing. Both institutions are multi-national financiers, serving multiple countries. A major focus of the banks will be the development of economies of mutual member states that work with both banks.

“The signature of this memorandum means the deepening of cooperation between two interstate financial institutions in the investment sphere,” Igor Finogenov, chairman of the Management Board at EDB, said. “We are ready to build long-term and mutually beneficial relationships with the IIB in a range of directions: trade finance for large companies and banks, support to development projects, and targeted SME finance programs in the member states of the two banks. I am convinced that based on the agreement we signed today, we will begin very soon to implement mutually beneficial projects and programs.”

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Eurasian Development Bank

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