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05 August 2022, 16:46

EDB aims to build Eurasian commodity distribution network

YEREVAN, 5 August (BelTA) – The Eurasian Development Bank (EDB) aims to build the Eurasian commodity distribution network, Chairman of the EDB Board Nikolai Podguzov told the media, BelTA has learned.

“Food security is a central theme for the whole world, including the Eurasian space. There are many interesting products in our countries. At the same time, every product in terms of competitiveness includes a logistical component. The EDB's strategic priority is to build a Eurasian commodity distribution network to unite producers, develop a logistics ‘pipeline' for the movement of food and remove the costs associated with the movement across the border, inefficient storage of products, organization of its distribution and so on,” Nikolai Podguzov said.

“We are now actively working with the governments of the EAEU countries on the concept of this unified commodity supply chain,” the chairman of the board added.

The Eurasian Development Bank (EDB) is an international financial institution engaged in investment activities in the Eurasian space. For 15 years already, the EDB has been promoting the strengthening and expansion of economic ties and comprehensive development of its member countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. The EDB has an authorized capital of $7 billion. The EDB's portfolio is mainly represented by integration projects in the areas of transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering. The bank is guided in its activities by the UN Sustainable Development Goals and ESG principles.

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