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09 December 2022, 09:53

Eurasian Development Bank optimistic about cooperation prospects with Belarus

Nikolai Podguzov. An archive photo
Nikolai Podguzov. An archive photo

ALMATY, 9 December (BelTA) – The Eurasian Development Bank (EDB) is quite optimistic about cooperation prospects with Belarus, Chairman of the EDB Board Nikolai Podguzov told journalists, BelTA has learned.

“Our operations in Belarus continue, as well as our operations in other shareholder countries. Belarus' strongest economic sectors are manufacturing, technologies, digital solutions. We have a fairly large portfolio of projects in these areas. We see the interest of the Belarusian industry in Russia, Kazakhstan, Kyrgyzstan. First of all, we will focus on joint projects that will span two or three countries. This is our priority,” said Nikolai Podguzov.

According to him, the portfolio of projects in Belarus is quite impressive. “Depending on the stage of projects, the portfolio ranges from several hundred million dollars to over $1 billion in some years. I am sure that the main tasks in our Belarusian strategy will be fulfilled,” the chairman of the board noted. “We have a sufficient number of promising potential borrowers from Belarus. These are key enterprises, including in the private sector. Therefore, we are quite optimistic about the future,” he noted.

The EDB's country strategy for Belarus is to significantly increase project financing and to replace investment of international institutions that are suspending their operations in the country.

The Eurasian Development Bank (EDB) is an international financial organization engaged in investment activities in the Eurasian space. For 15 years already the EDB has been contributing to the strengthening and expansion of economic ties and to the comprehensive development of its member states: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The EDB has a charter capital of $7 billion. Projects with an integration effect in such spheres as transport infrastructure, digital systems, green energy, agriculture, manufacturing sector, and mechanical engineering make up the bulk of the projects in the EDB's portfolio. The bank's operation is guided by the UN Sustainable Development Goals and ESG principles.

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