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Thursday, March 21, 2019

Nazarbayev meets with EDB chairman

Nursultan Nazarbayev, the president of Kazakhstan, met with Igor Finogenov, the chairman of the management board at Eurasian Development Bank (EDB), on Thursday in Astana, Kazakhstan.

The attendees discussed the results of EDB operations in Kazakhstan, which were first established in 2006 by Kazakh and Russian authorities. EDB has invested more than $2 billion in Kazakhstan's economy since 2006, implementing 28 projects in the power, transport engineering and chemical sectors.

Nazarbayev welcomed EDB's investments and said performance indicators show the bank's positive influence.

Finogenov highlighted EDB's work to implement the framework of Kazakhstan's national and sectoral programs. He also spoke on the bank's involvement in advancing the country's financial market and its plans to issue securities.

The bank's headquarters plans to partner with second-tier banks to develop small- and medium-sized business financing in Kazakhstan.

Russia and Kazakhstan founded EDB in January 2006 to facilitate economic ties and expand mutual trade between the two partners.