Eurasian Development Bank issued the following announcement on April 30.

The Eurasian Development Bank (EDB) and the Russian Export Center (REC) are launching a support program for enterprises of the Bank's countries. The REC and the EDB agreed to launch a joint credit program, and the parties signed a corresponding Memorandum. The program provides for financing the export of goods, works and services produced in the Russian Federation to other EDB member states: Armenia, Belarus, Kazakhstan, Kyrgyzstan and Tajikistan. The borrowers will be provided with preferential terms with attraction of financing from EDB and REC.

“The signed document is fully consistent with the logic of the actions of the Eurasian Development Bank in the context of the global pandemic of the coronavirus infection - increasing the pace of work in our countries for the speedy stabilization of the economic situation and their progressive development. Attracting the competencies of our partner, the Russian Export Center, will undoubtedly help support the trade between the EDB member countries and the Russian Federation, ”said Andrei Belyaninov, Chairman of the Board of the Eurasian Development Bank.

“The goal of the program’s launch is to maintain economic stability and maintain demand for goods, work and services in the EDB member states, as well as to prevent a fall in trade between the EAEU countries as a result of the COVID-19 pandemic, which becomes a challenge in the worsening global economic situation. of paramount importance, ”said Veronika Nikishina, General Director of JSC“ REC ”.

The memorandum provides for long-term, effective and mutually beneficial cooperation, aimed, inter alia, in the search, preparation and financing of investment projects in the field of infrastructure, energy, engineering, chemical and petrochemical industries, the agro-industrial complex, information technologies, etc. The organization of insurance support for insurance purposes is provided. entrepreneurial and political risks of investors and lenders on such projects.

Original source can be found here.