{"id":250855,"date":"2023-04-07T09:49:35","date_gmt":"2023-04-07T09:49:35","guid":{"rendered":"https:\/\/armbanks.am\/2023\/04\/07\/250855\/"},"modified":"2023-04-07T09:49:35","modified_gmt":"2023-04-07T09:49:35","slug":"armenia-to-pay-64-million-to-have-its-share-in-edb-capital-grow-to-4-22","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2023\/04\/07\/250855\/","title":{"rendered":"Armenia\u00a0to pay $64 million to\u00a0have\u00a0its share in EDB\u00a0capital grow to\u00a04.22%"},"content":{"rendered":"\n<p><strong>YEREVAN, April 7. \/ARKA\/. <\/strong>The Armenian government approved today a draft law on ratification of the intergovernmental agreement between Armenia and Russia on the purchase and sale of the Russian Federation&#8217;s share in the paid-up authorized capital of the Eurasian Development\u00a0Bank\u00a0(EDB).<\/p>\n\n\n\n<p>Russia&nbsp;lost its majority stake in the Eurasian Development Bank after the Board of the Kazakhstan-based bank approved a redistribution of member states\u2019 shares in January 2023.<\/p>\n\n\n\n<p>Russia\u2019s share in the EDB was to be reduced to less than 45%, while the remainder of its shares were to be equally distributed among the other member states.<\/p>\n\n\n\n<p>Before the decision of the bank&#8217;s Board, about 66% of the EDB&#8217;s authorized capital belonged to Russia, about 33% &#8211; to Kazakhstan, and 1% &#8211; to Belarus. Tajikistan, Armenia and Kyrgyzstan&nbsp;had small stakes.<\/p>\n\n\n\n<p>After acquiring 64,000 shares of the EDB worth $64 million, Armenia&#8217;s share&nbsp;in EDB&nbsp;is expected to amount to 4.22%,&#8221; according to the Armenian government.<\/p>\n\n\n\n<p>The authorized capital of EDB is $7 billion.&nbsp;Armenia&nbsp;became a full member of EDB in April 2009. Armenia&#8217;s share in the capital of the bank is $100,000,&nbsp;equal to&nbsp;07%&nbsp;of its shares. The&nbsp;value of each share is $1,000 (equals one vote).<\/p>\n\n\n\n<p>Currently the volume of EDB&#8217;s investment portfolio&nbsp;stands at&nbsp;$13.4 billion, of which $484.2 million were provided to Armenian government and private companies for implementation of 23 projects.<\/p>\n\n\n\n<p>The EDB is a development bank set up by Russia, Belarus and Kazakhstan in 2006 to finance big cross-border projects that integrate the economies of the member states more closely.<\/p>\n\n\n\n<p>The redistribution of EDB shares held by Russia&nbsp;was&nbsp;approved by EDB\u2019s shareholders and governments of the bank\u2019s member states but it has to be ratified by member states.-0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Armenian government approved today a draft law on ratification of the intergovernmental agreement between Armenia and Russia on the purchase and sale of the Russian Federation&#8217;s share in the paid-up authorized capital of the Eurasian Development\u00a0Bank\u00a0(EDB)<\/p>\n","protected":false},"author":1,"featured_media":172853,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[],"class_list":{"0":"post-250855","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/250855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=250855"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/250855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/172853"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=250855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=250855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=250855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}