Eurasian Development Bank eager to implement projects together with European financial institutions

_ EDB. Prague, 27 April 2018.

The Eurasian Development Bank (EDB) is interested in cooperation with European financial institutions for the sake of implementing investment projects in the EDB member states. EDB Chairman of the Board Andrei Belyaninov made the relevant statement during the second CIS and European financial and economic forum Prague Business Meetings.

The EDB chairman of the board said: “Investments in transboundary and national transport infrastructure represent a priority for the Eurasian Development Bank. Infrastructure accounts for roughly 50% of the EDB’s portfolio.”

The volume of transportation along the China – EAEU – EU axis grows rapidly. Transit traffic has been virtually doubled every year for the last five years. The matter is of mutual interest for the European Union and the Eurasian Economic Union (EAEU).

Andrei Belyaninov said: “We are interested in using the development of the transport and logistics infrastructure to switch some transit traffic from sea to land so that products from China to Europe and vice versa could be transported via the Eurasian Economic Union. It is a good business niche for logistics companies and railway ones. Improving the effectiveness of land transport corridors in the EU-EAEU-PRC format could make trade more effective. It could create multiple opportunities for manufacturing and various delivery chains.”

The EDB chairman of the board remarked that for the sake of increasing the throughput capacity of land transport corridors along the axis China – the Eurasian Economic Union – the European Union, for the sake of improving their competitive ability in comparison with transportation by sea it is necessary to apply pinpoint efforts to fix bottlenecks with moderate resources instead of embarking upon megaprojects.

“It is necessary to focus on cooperation between companies. The Eurasian Development Bank is ready to make its own contribution to the establishment of cooperation and the implementation of such projects,” said Andrei Belyaninov.

The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with a view to facilitating the development of market economies in the member states, their sustainable economic growth, and the expansion of mutual trade and economic ties. The EDB’s charter capital stands at $7 billion. The member states of the Bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.

Source: http://eng.belta.by/

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