YEREVAN, May 11. /ARKA/. The Eurasian Development Bank and the Asian Development Bank will finance a number of projects of $3 billion total cost in Armenia, Kyrgyzstan, Kazakhstan and Tajikistan, the Eurasian Development Bank reports on its website.
According to the report, the banks will target their joint financing for transport and energy infrastructures as well as agriculture.
Eurasian Development Bank was established by Russia and Kazakhstan in January 2006 to foster development of market economies of participant countries.
The bank’s member countries are Armenia ($100,000), Belarus ($15 million), Kazakhstan ($500 million), Kyrgyzstan ($100,000), Russia ($1 billion) and Tajikistan ($500,000).
The Eurasian Fund for Stabilization and Development was instituted on June 9, 2009 with $8.513 billion by the governments of these six countries. –0—-
