Eurasian Development Bank Improves its Position in 2023

ASTANA — The Eurasian Development Bank (EDB) maintained financial stability and improved its position as a leading development institution in its region of operations in 2023, said Nikolai Podguzov, Chair of the EDB Management Board.

Photo credit: Prime Minister’s press service

Kazakh Prime Minister Olzhas Bektenov chaired an annual meeting of the EDB Council on June 26, which reviewed the bank’s results for 2023 and made several decisions on multilateral development, reported the Prime Minister’s press service.

The bank’s annual investment volume totaled $1.7 billion. During the reporting year, the bank expanded its activity in green investments; by the end of the year, the volume of green projects in the current investment portfolio exceeded $600 million. Based on the results of the first two years, the execution of the 2022-2026 Strategy indicator for investments reached 140%.

Over the course of the bank’s 18-year history, its investment portfolio has grown to $14.7 billion, with 285 projects in total. The majority are projects with an integrative effect in transport infrastructure, digital systems, green energy, agriculture, industry, and mechanical engineering.

The EDB is an international financial institution that invests in Eurasian countries. For more than 18 years, it has been promoting the strengthening and expansion of economic ties and the comprehensive development of its member countries. The EDB’s authorized capital totals $7 billion. The bank’s operations are guided by the UN Sustainable Development Goals and Environmental, Social, and Corporate Governance (ESG) principles.

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