Еurasian Development Bank Strengthens Its Position in 2023
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.
Kazakh Prime Minister Olzhas Bektenov chaired the annual EDB Council meeting on June 26, where the bank's 2023 performance was reviewed, and several decisions on multilateral development were made, as reported by the Prime Minister’s press service.
The bank's annual investment volume totaled $1.7 billion. Throughout the year, the bank increased its focus on green investments, with green projects in the current investment portfolio exceeding $600 million by year-end. The 2022-2026 Strategy investment target was met at 140% within the first two years.
Over its 18-year history, the bank's investment portfolio has grown to $14.7 billion, comprising 285 projects. Most of these projects have an integrative impact on transport infrastructure, digital systems, green energy, agriculture, industry, and mechanical engineering.
The EDB is an international financial institution that invests in Eurasian countries. For over 18 years, it has been fostering the strengthening and expansion of economic ties and the comprehensive development of its member states. The EDB’s authorized capital is $7 billion. The bank's operations are guided by the UN Sustainable Development Goals and Environmental, Social, and Corporate Governance (ESG) principles.(Source:astanatimes)
