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Friday, February 28, 2020

EDB's Krasilnikov: Eurasian integration advances since agreement signing

Dmitry Krasilnikov, the deputy chairman of the management board of the Eurasian Development Bank (EDB), said at the recent Astana Economic Forum that Eurasian integration has made significant advances since the signing of the agreement on the Eurasian Economic Forum.

Speaking at a panel on the 20th anniversary of Eurasian economic integration, Krasilnikov discussed an idea first formulated by Nursultan Nazarbayev, the president of Kazakhstan, in 1994.

Krasilnikov told session participants that since 2006, the EDB has financed 94 investment projects in its member states worth more than $5 billion. Industrial infrastructure, especially energy and transport projects, account for approximately 67 percent of its investments.

Krasilnikov also said that since its establishment, the EDB has been an effective and market-oriented financial institution.

"This has become possible as a result of the Bank's continuous dialogue with the investor community, which we see as a tuning fork that helps us arrange our financial activities in a predictable and investor-friendly fashion," Krasilnikov said.

Krasilnikov said the bank is continuing the implement its 2013-2017 strategy and expects to double its investment portfolio to $10 billion.

The EDB was founded by Russia and Kazakhstan in January 2006 with the mission of facilitating the development of market economies, sustainable economic growth and ties between its member states.

The member states are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.