YEREVAN, February 24. / ARKA /. The Eurasian Development Bank (EDB) will revise its strategy, EDB Board Chairman Dmitry Pankin said today during an online news conference.
He said the existing strategy of the bank needs some changes to re-determine the key priorities.
“The current strategy targets virtually everything: small business, high technologies, infrastructure, banking industry, financing and many other sectors,” he said.
He said the bank’s chief executives are going to meet with peers from member countries to develop the detailed program.
“We want to learn what industries and priorities they are interested in. The dialogue will be used to adjust both the strategy and the work on the projects,” he said.
According to him, the Bank should focus on infrastructure projects, including power engineering, transport infrastructure and so on.
The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with a view to assisting the development of market economies of the member states while facilitating their sustainable economic growth and expanding their mutual trade and economic ties. The EDB’s authorized capital exceeds $1.5 billion. Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan are the EDB member states.
As of 31 December 2014 the Bank’s investment portfolio, including implemented projects, totaled $4.97 billion. The volume of the current investment portfolio stands at $3.16 billion. The key projects of the Bank include the construction of a rolling mill of Belarusian Steel Works (BMZ trademark) for $171 million and the construction of the Polotsk hydropower plant ($100 million).-0-
